A scholarship for room and board granted in 2013 is fully taxable to the recipient.

Question

Quizplus · Accepted Answer

According to the IRS, scholarships for room and board are generally taxable to the recipient as income. However, there are some exceptions such as if the recipient is a degree candidate and the scholarship is used to pay for qualified education expenses. It is important for recipients of scholarships to consult with a tax professional or refer to IRS guidelines to determine their specific tax obligations.

A Scholarship for Room and Board Granted in 2013 Is