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To: Poser
The article is incorrect in one way. It says he got his degree for free. That is not entirely true. He had to declare every class he took as regular income at the rate Columbia would have charged a cash paying student. He paid Social Security and Medicare at a minimum, and probably some local, state and federal income tax as well.

Not true. Scholarships are not considered taxable income to the extent that they pay for tuition, books, etc. Anything that covers other things, like room and board, is taxable, but it doesn't sound like he had anything like that.

36 posted on 05/14/2012 6:24:34 AM PDT by kalt
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To: kalt

You are assuming a scholarship. As an employee, free tuition is a taxable benefit. I work at a college and have paid the taxes.


54 posted on 05/14/2012 1:58:32 PM PDT by Poser (Cogito ergo Spam - I think, therefore I ham)
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