Problem LO
ICL Portal Le
Adrian was awarded an academic scholarship to State University for the academic year. He received $ in August and $ in December Adrian had enough personal savings to pay all expenses as they came due. Adrian's expenditures for the relevant period were as follows:
Tuition, August
$
Tuition, January
Room and board
AugustDecember
JanuaryMay
Books and educational supplies
AugustDecember
JanuaryMay
Regarding Adrian's scholarship, indicate whether the following statements are "True" or "False".
When Adrian received the money In his total exffenses for the academic year were not True known. Therefore, he is allowed to defer reporting the income until when the uncertainty is resolved.
The amount Adrian spent on tuition, books, and educational supplies in will not be excludable, since the scholarship was awarded in
Adrian may exclude from gross income the amount used for tuition, books, and educational supplies in and
The amount Adrian spent on room and board is excludable.
False
True
