I have a question regarding ROTC scholarships:
As an Army 4 year ROTC scholarship award winner you have to elect -
1) Tuition and Fees to be paid OR
2) $12,000 towards Room and Board.
My question is if you elect $12,000 towards room and board - do you have to report/ claim it on your taxes and or pay taxes on it?
I am not interested in wiki how links as a response and it doesn't answer the question with a U.S. tax code/law or any other U.S. code reference. Thank you for your help.
