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Simon Was Awarded a Scholarship to Attend State Law School

Question 145

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Simon was awarded a scholarship to attend State Law School from Gary Harris & Associates, Attorneys at Law. The scholarship pays Simon's tuition ($7,000 per semester)and fees ($500 per semester)and provides a $4,500 per-semester stipend to pay for food and housing. In order to qualify for the stipend, Simon must work 10 hours per week at Gary Harris & Associates during the term. How much of the scholarship is Simon required to include in gross income?

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$12,000 per semesterThe entire...

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