Taxpayers son received a scholarship directly from University of Minnesota and a 1099MISC with the amount reported in Box 3. If the monies was used for qualified expenses is this taxable?
If not how would you report it so you can avoid an IRS follow up CP letter?
If it is income, should it be reported on line 7?
If not how would you report it so you can avoid an IRS follow up CP letter?
If it is income, should it be reported on line 7?