Salary or Scholarship Confusion ? My daughter received an internship position with a community college
in fiscal year 2014 and was paid $2500 for work performed for a local
business.
No taxes were withheld and the community college labels this internship
as a "scholarship".
Accepting this $2500 as a scholarship bumps up her total scholarship
monies for FY 2014 to be greater than tuition & fees paid, making her
ineligible for the American Opportunity Credit.
Do we have to take these monies as "scholarship" or can we roll this
money into wages she received for FY 2014 ?
thank you for any advice ! |