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Ms Mary was accepted to Big State University and received a reduced tuition from $50,000...

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Accounting

Ms Mary was accepted to Big State University and received a reduced tuition from $50,000 to $20,000. Mary also received a scholarship of $30,000 to attend Big State University. Since Mary's tuition is $20,000 she will use the remaining portion to cover her room and board expenses. BSU also offered Mary a part-time job as an admin. assistant where she will be paid $2,500 per year. Mary Smith needs your help in determining what is taxable and what is not taxable. Please use IRS publication 970 and let her know what /if anything is taxable and what is nontaxable and any other info that is relevant. Please write at leat 200 words to explain why.

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