1.015 -Exemption of Scholarships and Fellowships

Item	Description	FY2011	FY2012	FY2013	FY2014	FY2015
1.015	Exemption of Scholarships and Fellowships Degree candidates can exclude scholarships and fellowship income if the amounts are not compensation for services or for the payment of room, board or travel expenses. Origin: IRC S. 117 Estimate: $21.0	17.5	18.8	19.3	20.6	21

Key:

ORIGIN
IRC	Federal Internal Revenue Code (26 U.S.C.)
U.S.C	United States Code
M.G.L.	Massachusetts General Laws
Rev. Rul.; C.B.	Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES	All estimates are in $ millions.