Shaun Is a Student Who Has Received an Academic Scholarship

question 126

Multiple Choice

Shaun is a student who has received an academic scholarship to State University. The scholarship paid $14,000 for tuition, $2,500 for fees, and $1,000 for books. In addition, Shaun's dormitory fees of $8,500 were paid by the university when he agreed to counsel freshman on campus living. What amount must Shaun include in his gross income?

• A)$9,500
• B)$11,000
• C)$2,500
• D)$8,500
• E)$0-none of these benefits are included in gross income.