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68. Kevin is a candidate for an undergraduate degree at a local university. During 2021, he was granted a fellowship that provided the following:
68. Kevin is a candidate for an undergraduate degree at a local university. During 2021, he was granted a fellowship that provided the following: Tuition Books and supplies Room and board $18,000 2,000 14,800 What amount can Kevin exclude from gross income in 2021? a. $20,000 b. $25,000 c. 29,800 d. $34,800 e. $18,000 69. During 2021 Milton Hanover was granted a divorce from his wife. The divorce decree stipulated that he was to pay both alimony and child support for a specified period of time. In examining his records for 2018, the following information is available: Salary Interest received on bank deposits Interest received on municipal obligations_ $50,000 2,000 1,000 Alimony paid Child support What is Hanover's adjusted gross income for 2018? a. $44,600 b. $48,400 c. $49,400 d. $52,000 $53,000 3,600 4,800 102)
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