To pay for college, Henry received the following:
$1,000 scholarship from the Thespian Club to pay for books
$4,000 scholarship from the Elks Lodge for tuition
$5,000 worth of room and board as a dorm supervisor through a work-study program
How much income must Henry report on his tax return?

Question

To pay for college, Henry received the following: 
$1,000 scholarship from the Thespian Club to pay for books
$4,000 scholarship from the Elks Lodge for tuition
$5,000 worth of room and board as a dorm supervisor through a work-study program
How much income must Henry report on his tax return?

Quizplus · Accepted Answer

Henry must report the $5,000 worth of room and board he received through the work-study program as income on his tax return. Scholarships used for tuition and books are not taxable, but work-study earnings are considered taxable income.

To Pay for College, Henry Received the Following