Shaun Is a Student Who Has Received an Athletic Scholarship

Shaun is a student who has received an athletic 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) Zero - none of these benefits is included in gross income

Correct Answer:

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