Question
1-Donna receives a need based scholarship of $10,000 that covers half of her tuition. She also receives a total stipend of $7,000 for her job
1-Donna receives a need based scholarship of $10,000 that covers half of her tuition. She also receives a total stipend of $7,000 for her job as a resident advisor in the campus dormitories. In addition, she receives free room and board in the dorms (a fair market value of $12,000) where she is required to live. The taxable amount of these payments to Donna is ______
Question options:
$29,000 | |
$19,000 | |
$7,000 |
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Concepts In Federal Taxation
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