1.015 -Exemption of Scholarships and Fellowships

Item	Description	FY2008	FY2009	FY2010
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: $17.2	15.7	16.5	17.2

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.