Joanna Gaynes was an outstanding high school student, so her acceptance to Prestige Private University came as no surprise (PPU). PPU gave Joanna a reduced tuition of $13,000 per year to attract her to attend (full-time tuition is generally $4


GET ALL YOUR ACADEMIC HELP AT ESSAYLINK.NET

Joanna Gaynes was an outstanding high school student, so her acceptance to Prestige Private University came as no surprise (PPU). PPU gave Joanna a reduced tuition of $13,000 per year to attract her to attend (full-time tuition is generally $43,000 per year). Thanks to a generous grant from William Gatos, PPU also maintains a scholarship program. Joanna won the Gatos Stipend and will get a $20,000 scholarship. Joanna must use the scholarship to pay her $13,000 tuition first, and the remaining to fund room and board at PPU. Finally, PPU offered Joanna a part-time employment on the PPU campus as a student lab assistant in the PPU Biology Department, for which she accepted.

Required: Go to the IRS website (www.irs.gov) and locate Publication 970. Review the section on Scholarships.

Required: Write a letter to Joanna Gaynes stating how much of the PPU package for Joanna is taxable.

GET ALL YOUR ACADEMIC HELP AT ESSAYLINK.NET


Get Homework Help Online From Expert Tutors

X
WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
👋 Hi, how can I help?