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Room and Board Taxable if Required?
My daughter received a scholarship that included room and board. However, the terms of the scholarship required her to stay on campus. $2500 of the $7500 scholarship was allocated toward her fulfilling that on campus requirement. Would she have to file the $2500 as income and pay taxes on that amount of the scholarship if staying on campus was a stipulation?
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‎July 8, 2020
5:30 PM