Tax MCQ
Individual Income Tax Chapter 5
Jenny is a full-time student at Global University and is claimed by her parents as a dependent. Her only source of income is a $23,500 scholarship ($500 for books, $15,000 for tuition, and $8,000 for room and board). Jenny's gross income for the year is:
Jenny is a full-time student at Global University and is claimed by her parents as a dependent. Her only source of income is a $23,500 scholarship ($500 for books, $15,000 for tuition, and $8,000 for room and board). Jenny's gross income for the year is:
Jenny is a full-time student at Global University and is claimed by her parents as a dependent. Her only source of income is a $23,500 scholarship ($500 for books, $15,000 for tuition, and $8,000 for room and board). Jenny's gross income for the year is:
a.$500.
b. $8,000.
c. $15,000.
d. $23,500.
e. None of the above.
Answer: B. $8,000
Learn More :