A scholarship for room and board granted in 2016 is fully taxable to the recipient.

Question

Quizplus · Accepted Answer

According to IRS Publication 970, scholarships or fellowships that cover room and board are generally taxable to the recipient, unless they are specifically designated as tax-free by the educational institution and do not exceed the recipient's actual expenses. Therefore, a scholarship for room and board granted in 2016 is fully taxable to the recipient.

A Scholarship for Room and Board Granted in 2016 Is