In December 2017,Emily,a Cash Basis Taxpayer,received a $2,500 Cash Scholarship

question 78

True/False

In December 2017,Emily,a cash basis taxpayer,received a $2,500 cash scholarship for the Spring semester of 2018.However,she did not use the funds to pay the tuition until January 2018.Emily can exclude the $2,500 from her gross income in 2017.

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