Marie is a graduate student at a state university.In 2017,she received a scholarship of $10,500 ($7,000 for tuition and fees and $3,500 for campus housing)and a graduate assistantship that pays $6,000.What is the amount that she must report on her tax return?

Question

Quizplus · Accepted Answer

Marie must report the amount of her scholarship that exceeds the qualified expenses. In this case, her qualified expenses are $7,000 for tuition and fees, therefore the excess amount is $3,500. She also must report her graduate assistantship income of $6,000. Therefore, the total amount that Marie must report on her tax return is $9,500 ($3,500 scholarship excess + $6,000 assistantship income).

Marie Is a Graduate Student at a State University