Question
Anna is a graduate accounting student at the local university. She is the recipient of a $1,000 scholarship from the university. In addition, Anna works
Anna is a graduate accounting student at the local university. She is the recipient of a $1,000 scholarship from the university. In addition, Anna works as a part time teaching assistant in the school of accountancy. She is paid $3,000 per calendar year and receives a tuition waiver covering 100 percent of her tuition. If not for the waiver, Anna would have paid $8,000 for tuition. Further, she paid $400 for books and supplies related to her coursework and incurred living expenses of $6,200. According to most recent tax law, how much gross income Anna must report?
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