Amounts received as scholarships for books and tuition may be excluded from the recipient's taxable income.

Name: Amounts received as scholarships for books and tuition may be excluded from the recipient's taxable income.
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According to Internal Revenue Service (IRS), scholarships received for books and tuition may be excluded from taxable income. However, if the scholarship covers other expenses such as room and board, it may be subject to taxation.

Amounts Received as Scholarships for Books and Tuition May Be