Adrian was awarded an academic scholarship to State University for the 2017-2018 academic year. He received $6,500

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Adrian was awarded an academic scholarship to State University for the 2017-2018 academic year. He received $6,500 in August and $7,200 in December 2017. Adrian had enough personal savings to pay all expenses as they came due. Adrian's expenditures for the relevant period were as follows:
Tuition, August 2017 .............................................................. $3,700
Tuition, January 2018 ............................................................... 3,750
Room and board
August-December 2017 ............................................................ 2,800
January-May 2018 .................................................................. 2,500
Books and educational supplies
August-December 2017 ............................................................... 1,000
January-May 2018 .................................................................... 1,200
Determine the effect on Adrian's gross income for 2017 and 2018.
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South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities

ISBN: 9781337386173

21st Edition

Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney

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