A scholarship for room and board granted in 2015 is fully taxable to the recipient.

Name: A scholarship for room and board granted in 2015 is fully taxable to the recipient.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

According to IRS Publication 970, "A scholarship or fellowship grant is tax free only to the extent: ...It doesn't exceed your necessary expenses;" Room and board expenses are considered necessary expenses and therefore any scholarship granted for these items is taxable income.

A Scholarship for Room and Board Granted in 2015 Is