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A receives a scholarship of $35,000 in August, 2015 for the school year September, 2015-June 2016. During 2015 A pays $2,000 for room and board,
A receives a scholarship of $35,000 in August, 2015 for the school year September, 2015-June 2016. During 2015 A pays $2,000 for room and board, $1,000 for books and supplies, and $14,000 for tuition. During January June of 2016 A pays $3,000 for room and board, $1,200 for books and $14,000 for tuition. How much of the scholarship is taxable, if any.
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