dkh
Level 15
02-08-2024
08:30 AM
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Here is link to IRS info that may help https://www.irs.gov/taxtopics/tc421
and this is what Google says
How do I know if a scholarship is taxable?
In general, scholarship funds cannot be treated as taxable income as long as you're (a) pursuing a degree and (b) using the funds for tuition, fees or anything else that the IRS considers a “qualified education expense.” Those include books and supplies that are required for your program of study.
itonewbie
Level 15
02-08-2024
10:05 AM
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Agree with @dkh. You may like to find out a bit more from your client what that "scholarship" consists of. Perhaps there's a taxable stipend or service element? But then again, I'd think most institutions are on the ball with their reporting.
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