Mary Green is a full-time undergraduate student at Clayton State University.
Mary Green is a full-time undergraduate student at Clayton State University. Mary is an honor student and received
a $9,000-per-year scholarship. The scholarship award pays for Mary’s tuition ($6,000), books ($1,000), equipment ($1,200), and incidental expenses ($800).
a: Explain how each of the amounts shown above would be treated for tax purposes.
b: Calculate the total amounts that should be shown in Mary’s gross income.