Lesson Viewed
Basic Federal Income Taxation: Gross Income: Scholarships
This lesson will guide users to understand those expenses that qualify under the designation of a scholarship, and regulations concerning exclusions, prizes, and other income for students. Questions review your understanding of Internal Revenue Code section 117.
Learning Outcomes
On completion of the lesson, the student will be able to:
1. Explain the application of § 117(a) to an individual's gross income.
2. Explain the application of § 117(d) to an employee's gross income.
3. Define "qualified tuition and related expenses."
4. Explain the effect of an employment condition on a conditional scholarship.
Lesson Authors
More like this
- Basic Federal Income Taxation: Gross Income: Exclusion of Interest on Certain United States Savings Bonds
- Basic Federal Income Taxation: Taxable Income and Tax Computation: Dependent Care Credit
- Basic Federal Income Taxation: Gross Income: The Taxability of Employment Connected Payments: Fringe Benefits, Meals and Lodging, Unemployment Compensation, and Social Security Benefits
- Basic Federal Income Taxation: Deductions: Medical Expense Deductions
- Basic Federal Income Taxation: Taxable Income and Tax Computation: Personal and Dependency Exemptions