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Education
Q. 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?
A. Yes. A mandatory living on campus stipulation does not change the fact that Room & board (R&B) are non qualified educational expenses. Any scholarship money used to pay R&B is still taxable.
‎July 8, 2020
6:15 PM
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