Scholarships for future years
My daughter is a first year college student. This year's tuition is covered by the state. She recieved a local $500 scholarship and we anticipated applying that to her 3rd year (when the state stops paying). Is the scholoarship still tax free since we plan to pay for tution in a future year or do we have to claim it as income now this year since it was recieved this year?
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