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Jarrod receives a scholarship of $33,400 from Riggers University to be used to pursue a bachelor’s...

Jarrod receives a scholarship of $33,400 from Riggers University to be used to pursue a bachelor’s degree. He spends $20,040 on tuition, $5,010 on books and supplies, $6,680 for room and board, and $1,670 for personal expenses.

Jarrod may exclude $ from his gross income.

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Answer #1

Exclusion from gross income

= Tution fee + Books and supplies

= 20,040"+ 5,010

= 25,050
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