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For each of the following situations, indicate how much the taxpayer is required to include in gross income: a. Steve was awarded a $8,900 scholarship
For each of the following situations, indicate how much the taxpayer is required to include in gross income:
a. Steve was awarded a $8,900 scholarship to attend State Law School. The scholarship pays Steve's tuition and fees.
b. Hal was awarded a $16,200 scholarship to attend State Hotel School. All scholarship students must work 25 hours per week at the School residency during the term.
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