1. Special notes. Books Tuition Tax Tax bracket Pell Grants This taxpayer also paid $900 for...
| 1. Special notes. | Books | Tuition | Tax | Tax bracket | Pell Grants |
| This taxpayer also paid $900 for a laptop so he could do homework on the bus instead of the computer lab. The computer broke, and he couldn't afford another one, so he just started using the computer lab. | $100 | $3,000 | $3,000 | 12% | $4,100 |
What is the amount of max benefit?
what is the amount of taxable scholarship?
2.
| Special notes. | Books | Tuition | Tax | Tax bracket | Pell Grants |
| This student has self-employment income from playing an accordion on 16th street. | $200 | $3,000 | $3,000 | 12% | $- |
What is the amount of the Maximum Benefit?
what is the amount of taxable scholarship?
3.
| Special notes. | Books | Tuition | Tax | Tax bracket | Pell Grants |
| This taxpayer lives at home rent-free. His grandma cooks all of his meals and does his laundry. He uses a bus pass included with his tuition. He pays for it with a job in the Geek Squad. | $400 | $3,800 | $- | 12% | $- |
What is the amount of the Maximum Benefit?
what is the amount of taxable scholarship?
4.
| Books | Tuition | Tax | Tax bracket | Pell Grants | |
| This student got free books because he took VITA. | $- | $10,000 | $3,000 | 12% | $14,000 |
What is the amount of the Maximum Benefit?
what is the amount of taxable scholarship?
Homework Answers
1. Maximum Benefit - $ 3,100
Taxable scholarship - $ 1,000
2. Maximum Benefit - $ 3,200
Taxable scholarship - $ 0
3. Maximum Benefit - $ 10,000
Taxable scholarship - $ 4,000
4. Maximum Benefit - $ 4,200
Taxable scholarship - $ 0
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1. Special notes.
Books
Tuition
Tax
Tax bracket
Pell Grants
This taxpayer also paid $900 for...
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