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Jarrod receives a scholarship of $26,200 from Riggers University to be used to pursue a bachelor's degree. He spends $15,720 on tuition, $1,310 on books and supplies, $5,240 for room and board, and $3,930 for personal expenses. How much may Jarrod exclude from his gross income

User Consty
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1 Answer

4 votes

Answer:

$20,960

Step-by-step explanation:

The amount that excluded from the gross income is as follows:

i. Tuition fee $15,720

ii. Books and Supplies $5,240

Total $20,960

The amount of $20,960 would be excluded from the gross income

And, the other amounts would be included in the gross income

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