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Printable Tax Forms 2011

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Printable Tax Forms 2011

Printable tax forms 2011 1. Printable tax forms 2011   Organizations Subject to the Tax Table of Contents The tax on unrelated business income applies to most organizations exempt from tax under section 501(a). Printable tax forms 2011 These organizations include charitable, religious, scientific, and other organizations described in section 501(c), as well as employees' trusts forming part of pension, profit-sharing, and stock bonus plans described in section 401(a). Printable tax forms 2011 In addition, the following are subject to the tax on unrelated business income. Printable tax forms 2011 Individual retirement arrangements (IRAs), including traditional IRAs, Roth IRAs, Coverdell IRAs, simplified employee pensions (SEP-IRAs), and savings incentive match plans for employees (SIMPLE IRAs). Printable tax forms 2011 State and municipal colleges and universities. Printable tax forms 2011 Qualified state tuition programs. Printable tax forms 2011 Medical savings accounts (MSAs) described in section 220(d). Printable tax forms 2011 Coverdell savings accounts described in section 530. Printable tax forms 2011 U. Printable tax forms 2011 S. Printable tax forms 2011 instrumentalities. Printable tax forms 2011   A corporation that is a U. Printable tax forms 2011 S. Printable tax forms 2011 instrumentality described in section 501(c)(1) is not subject to the tax on unrelated business income if the corporation is organized under an Act of Congress and, under the Act, is exempt from federal income taxes. Printable tax forms 2011 Colleges and universities. Printable tax forms 2011   Colleges and universities that are agencies or instrumentalities of any government or any political subdivision of a government, or that are owned or operated by a government or political subdivision of a government, are subject to the tax on unrelated business income. Printable tax forms 2011 As used here, the word government includes any foreign government (to the extent not contrary to a treaty) and all domestic governments (the United States and any of its possessions, any state, and the District of Columbia). Printable tax forms 2011   The tax is on the unrelated business income of both the universities and colleges themselves and on their wholly owned tax exempt subsidiary organizations. Printable tax forms 2011 It is immaterial whether the business is conducted by the university or by a separately incorporated wholly owned subsidiary. Printable tax forms 2011 If the business activity is unrelated, the income in both instances will be subject to the tax. Printable tax forms 2011 If the primary purpose of a wholly owned subsidiary is to operate or conduct any unrelated trade or business (other than holding title to property and collecting income from it), the subsidiary is not an exempt organization, and this rule does not apply. Printable tax forms 2011 Title-holding corporations. Printable tax forms 2011   When an exempt title-holding corporation, described in section 501(c)(2), pays any of its net income to an organization that itself is exempt from tax under section 501(a) (or would pay such an amount except that the expenses of collecting its income exceed the amount collected) and files a consolidated return with that organization, the title-holding corporation is treated, for unrelated business income tax purposes, as organized and operated for the same purposes as the exempt payee organization. Printable tax forms 2011   Thus, a title-holding corporation whose source of income is related to the exempt purposes of the payee organization is not subject to the unrelated business income tax if the holding corporation and the payee organization file a consolidated return. Printable tax forms 2011 However, if the source of the income is not so related, the title-holding corporation is subject to unrelated business income tax. Printable tax forms 2011 Example. Printable tax forms 2011 X, a title-holding corporation, is required to distribute its net income to A, an exempt organization. Printable tax forms 2011 During the tax year, X realizes net income of $900,000 from source M, which is related to A's exempt function. Printable tax forms 2011 X also receives $100,000 from source N, which is not related to A's exempt function. Printable tax forms 2011 X and A file a consolidated return for the tax year. Printable tax forms 2011 X has unrelated business income of $100,000. Printable tax forms 2011 Prev  Up  Next   Home   More Online Publications
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Printable tax forms 2011 3. Printable tax forms 2011   Exclusions From Gross Income Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Resident AliensForeign Earned Income and Housing Amount Nonresident AliensInterest Income Dividend Income Services Performed for Foreign Employer Gambling Winnings From Dog or Horse Racing Gain From the Sale of Your Main Home Scholarships and Fellowship GrantsExpenses that do not qualify. Printable tax forms 2011 Introduction Resident and nonresident aliens are allowed exclusions from gross income if they meet certain conditions. Printable tax forms 2011 An exclusion from gross income is generally income you receive that is not included in your U. Printable tax forms 2011 S. Printable tax forms 2011 income and is not subject to U. Printable tax forms 2011 S. Printable tax forms 2011 tax. Printable tax forms 2011 This chapter covers some of the more common exclusions allowed to resident and nonresident aliens. Printable tax forms 2011 Topics - This chapter discusses: Nontaxable interest, Nontaxable dividends, Certain compensation paid by a foreign employer, Gain from sale of home, and Scholarships and fellowship grants. Printable tax forms 2011 Useful Items - You may want to see: Publication 54 Tax Guide for U. Printable tax forms 2011 S. Printable tax forms 2011 Citizens and Resident Aliens Abroad 523 Selling Your Home See chapter 12 for information about getting these publications. Printable tax forms 2011 Resident Aliens Resident aliens may be able to exclude the following items from their gross income. Printable tax forms 2011 Foreign Earned Income and Housing Amount If you are physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months, you may qualify for the foreign earned income exclusion. Printable tax forms 2011 The exclusion is $97,600 in 2013. Printable tax forms 2011 In addition, you may be able to exclude or deduct certain foreign housing amounts. Printable tax forms 2011 You may also qualify if you are a bona fide resident of a foreign country and you are a citizen or national of a country with which the United States has an income tax treaty. Printable tax forms 2011 For more information, see Publication 54. Printable tax forms 2011 Foreign country. Printable tax forms 2011    A foreign country is any territory under the sovereignty of a government other than that of the United States. Printable tax forms 2011   The term “foreign country” includes the country's territorial waters and airspace, but not international waters and the airspace above them. Printable tax forms 2011 It also includes the seabed and subsoil of those submarine areas adjacent to the country's territorial waters over which it has exclusive rights under international law to explore and exploit the natural resources. Printable tax forms 2011   The term “foreign country” does not include U. Printable tax forms 2011 S. Printable tax forms 2011 possessions or territories. Printable tax forms 2011 It does not include the Antarctic region. Printable tax forms 2011 Nonresident Aliens Nonresident aliens can exclude the following items from their gross income. Printable tax forms 2011 Interest Income Interest income that is not connected with a U. Printable tax forms 2011 S. Printable tax forms 2011 trade or business is excluded from income if it is from: Deposits (including certificates of deposit) with persons in the banking business, Deposits or withdrawable accounts with mutual savings banks, cooperative banks, credit unions, domestic building and loan associations, and other savings institutions chartered and supervised as savings and loan or similar associations under federal or state law (if the interest paid or credited can be deducted by the association), and Amounts held by an insurance company under an agreement to pay interest on them. Printable tax forms 2011 State and local government obligations. Printable tax forms 2011   Interest on obligations of a state or political subdivision, the District of Columbia, or a U. Printable tax forms 2011 S. Printable tax forms 2011 possession, generally is not included in income. Printable tax forms 2011 However, interest on certain private activity bonds, arbitrage bonds, and certain bonds not in registered form is included in income. Printable tax forms 2011 Portfolio interest. Printable tax forms 2011   Interest and original issue discount that qualifies as portfolio interest is not subject to NRA withholding. Printable tax forms 2011 To qualify as portfolio interest, the interest must be paid on obligations issued after July 18, 1984, and otherwise subject to NRA withholding. Printable tax forms 2011 Note. Printable tax forms 2011 For obligations issued after March 18, 2012, portfolio interest does not include interest paid on debt that is not in registered form. Printable tax forms 2011 Before March 19, 2012, portfolio interest included interest on certain registered and nonregistered (bearer) bonds if the obligations meet the requirements described below. Printable tax forms 2011 Obligations in registered form. Printable tax forms 2011   Portfolio interest includes interest paid on an obligation that is in registered form, and for which you have received documentation that the beneficial owner of the obligation is not a United States person. Printable tax forms 2011   Generally, an obligation is in registered form if: (i) the obligation is registered as to both principal and any stated interest with the issuer (or its agent) and any transfer of the obligation may be effected only by surrender of the old obligation and reissuance to the new holder; (ii) the right to principal and stated interest with respect to the obligation may be transferred only through a book entry system maintained by the issuer or its agent; or (iii) the obligation is registered as to both principal and stated interest with the issuer or its agent and can be transferred both by surrender and reissuance and through a book entry system. Printable tax forms 2011   An obligation that would otherwise be considered to be in registered form is not considered to be in registered form as of a particular time if it can be converted at any time in the future into an obligation that is not in registered form. Printable tax forms 2011 For more information on whether obligations are considered to be in registered form, see Portfolio interest in Publication 515. Printable tax forms 2011 Obligations not in registered form. Printable tax forms 2011    For obligations issued before March 19, 2012, interest on an obligation that is not in registered form (bearer obligation) is portfolio interest if the obligation is foreign-targeted. Printable tax forms 2011 A bearer obligation is foreign-targeted if: There are arrangements to ensure that the obligation will be sold, or resold in connection with the original issue, only to a person who is not a United States person, Interest on the obligation is payable only outside the United States and its possessions, and The face of the obligation contains a statement that any United States person who holds the obligation will be subject to limits under the United States income tax laws. Printable tax forms 2011   Documentation is not required for interest on bearer obligations to qualify as portfolio interest. Printable tax forms 2011 In some cases, however, you may need documentation for purposes of Form 1099 reporting and backup withholding. Printable tax forms 2011 Interest that does not qualify as portfolio interest. Printable tax forms 2011   Payments to certain persons and payments of contingent interest do not qualify as portfolio interest. Printable tax forms 2011 You must withhold at the statutory rate on such payments unless some other exception, such as a treaty provision, applies. Printable tax forms 2011 Contingent interest. Printable tax forms 2011   Portfolio interest does not include contingent interest. Printable tax forms 2011 Contingent interest is either of the following: Interest that is determined by reference to: Any receipts, sales, or other cash flow of the debtor or related person, Income or profits of the debtor or related person, Any change in value of any property of the debtor or a related person, or Any dividend, partnership distributions, or similar payments made by the debtor or a related person. Printable tax forms 2011 For exceptions, see Internal Revenue Code section 871(h)(4)(C). Printable tax forms 2011 Any other type of contingent interest that is identified by the Secretary of the Treasury in regulations. Printable tax forms 2011 Related persons. Printable tax forms 2011   Related persons include the following. Printable tax forms 2011 Members of a family, including only brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc. Printable tax forms 2011 ), and lineal descendants (children, grandchildren, etc. Printable tax forms 2011 ). Printable tax forms 2011 Any person who is a party to any arrangement undertaken for the purpose of avoiding the contingent interest rules. Printable tax forms 2011 Certain corporations, partnerships, and other entities. Printable tax forms 2011 For details, see Nondeductible Loss in chapter 2 of Publication 544. Printable tax forms 2011 Exception for existing debt. Printable tax forms 2011   Contingent interest does not include interest paid or accrued on any debt with a fixed term that was issued: On or before April 7, 1993, or After April 7, 1993, pursuant to a written binding contract in effect on that date and at all times thereafter before that debt was issued. Printable tax forms 2011 Dividend Income The following dividend income is exempt from the 30% tax. Printable tax forms 2011 Certain dividends paid by foreign corporations. Printable tax forms 2011   There is no 30% tax on U. Printable tax forms 2011 S. Printable tax forms 2011 source dividends you receive from a foreign corporation. Printable tax forms 2011 See Second exception under Dividends in chapter 2 for how to figure the amount of U. Printable tax forms 2011 S. Printable tax forms 2011 source dividends. Printable tax forms 2011 Certain interest-related dividends. Printable tax forms 2011   There is no 30% tax on interest-related dividends from sources within the United States that you receive from a mutual fund or other regulated investment company in 2013. Printable tax forms 2011 The mutual fund will designate in writing which dividends are interest-related dividends. Printable tax forms 2011 Certain short-term capital gain dividends. Printable tax forms 2011   There may not be any 30% tax on certain short-term capital gain dividends from sources within the United States that you receive from a mutual fund or other regulated investment company. Printable tax forms 2011 The mutual fund will designate in writing which dividends are short-term capital gain dividends. Printable tax forms 2011 This tax relief will not apply to you if you are present in the United States for 183 days or more during your tax year. Printable tax forms 2011 Services Performed for Foreign Employer If you were paid by a foreign employer, your U. Printable tax forms 2011 S. Printable tax forms 2011 source income may be exempt from U. Printable tax forms 2011 S. Printable tax forms 2011 tax, but only if you meet one of the situations discussed next. Printable tax forms 2011 Employees of foreign persons, organizations, or offices. Printable tax forms 2011   Income for personal services performed in the United States as a nonresident alien is not considered to be from U. Printable tax forms 2011 S. Printable tax forms 2011 sources and is tax exempt if you meet all three of the following conditions. Printable tax forms 2011 You perform personal services as an employee of or under a contract with a nonresident alien individual, foreign partnership, or foreign corporation, not engaged in a trade or business in the United States; or you work for an office or place of business maintained in a foreign country or possession of the United States by a U. Printable tax forms 2011 S. Printable tax forms 2011 corporation, a U. Printable tax forms 2011 S. Printable tax forms 2011 partnership, or a U. Printable tax forms 2011 S. Printable tax forms 2011 citizen or resident. Printable tax forms 2011 You perform these services while you are a nonresident alien temporarily present in the United States for a period or periods of not more than a total of 90 days during the tax year. Printable tax forms 2011 Your pay for these services is not more than $3,000. Printable tax forms 2011 If you do not meet all three conditions, your income from personal services performed in the United States is U. Printable tax forms 2011 S. Printable tax forms 2011 source income and is taxed according to the rules in chapter 4. Printable tax forms 2011   If your pay for these services is more than $3,000, the entire amount is income from a trade or business within the United States. Printable tax forms 2011 To find if your pay is more than $3,000, do not include any amounts you get from your employer for advances or reimbursements of business travel expenses, if you were required to and did account to your employer for those expenses. Printable tax forms 2011 If the advances or reimbursements are more than your expenses, include the excess in your pay for these services. Printable tax forms 2011   A day means a calendar day during any part of which you are physically present in the United States. Printable tax forms 2011 Example 1. Printable tax forms 2011 During 2013, Henry Smythe, a nonresident alien from a nontreaty country, worked for an overseas office of a U. Printable tax forms 2011 S. Printable tax forms 2011 partnership. Printable tax forms 2011 Henry, who uses the calendar year as his tax year, was temporarily present in the United States for 60 days during 2013 performing personal services for the overseas office of the partnership. Printable tax forms 2011 That office paid him a total gross salary of $2,800 for those services. Printable tax forms 2011 During 2013, he was not engaged in a trade or business in the United States. Printable tax forms 2011 The salary is not considered U. Printable tax forms 2011 S. Printable tax forms 2011 source income and is exempt from U. Printable tax forms 2011 S. Printable tax forms 2011 tax. Printable tax forms 2011 Example 2. Printable tax forms 2011 The facts are the same as in Example 1, except that Henry's total gross salary for the services performed in the United States during 2013 was $4,500. Printable tax forms 2011 He received $2,875 in 2013, and $1,625 in 2014. Printable tax forms 2011 During 2013, he was engaged in a trade or business in the United States because the compensation for his personal services in the United States was more than $3,000. Printable tax forms 2011 Henry's salary is U. Printable tax forms 2011 S. Printable tax forms 2011 source income and is taxed under the rules in chapter 4. Printable tax forms 2011 Crew members. Printable tax forms 2011   Compensation for services performed by a nonresident alien in connection with the individual's temporary presence in the United States as a regular crew member of a foreign vessel (for example, a boat or ship) engaged in transportation between the United States and a foreign country or U. Printable tax forms 2011 S. Printable tax forms 2011 possession is not U. Printable tax forms 2011 S. Printable tax forms 2011 source income and is exempt from U. Printable tax forms 2011 S. Printable tax forms 2011 tax. Printable tax forms 2011 This exemption does not apply to compensation for services performed on foreign aircraft. Printable tax forms 2011 Students and exchange visitors. Printable tax forms 2011   Nonresident alien students and exchange visitors present in the United States under “F,” “J,” or “Q” visas can exclude from gross income pay received from a foreign employer. Printable tax forms 2011   This group includes bona fide students, scholars, trainees, teachers, professors, research assistants, specialists, or leaders in a field of specialized knowledge or skill, or persons of similar description. Printable tax forms 2011 It also includes the alien's spouse and minor children if they come with the alien or come later to join the alien. Printable tax forms 2011   A nonresident alien temporarily present in the United States under a “J” visa includes an alien individual entering the United States as an exchange visitor under the Mutual Educational and Cultural Exchange Act of 1961. Printable tax forms 2011 Foreign employer. Printable tax forms 2011   A foreign employer is: A nonresident alien individual, foreign partnership, or foreign corporation, or An office or place of business maintained in a foreign country or in a U. Printable tax forms 2011 S. Printable tax forms 2011 possession by a U. Printable tax forms 2011 S. Printable tax forms 2011 corporation, a U. Printable tax forms 2011 S. Printable tax forms 2011 partnership, or an individual who is a U. Printable tax forms 2011 S. Printable tax forms 2011 citizen or resident. Printable tax forms 2011   The term “foreign employer” does not include a foreign government. Printable tax forms 2011 Pay from a foreign government that is exempt from U. Printable tax forms 2011 S. Printable tax forms 2011 income tax is discussed in chapter 10. Printable tax forms 2011 Income from certain annuities. Printable tax forms 2011   Do not include in income any annuity received under a qualified annuity plan or from a qualified trust exempt from U. Printable tax forms 2011 S. Printable tax forms 2011 income tax if you meet both of the following conditions. Printable tax forms 2011 You receive the annuity only because: You performed personal services outside the United States while you were a nonresident alien, or You performed personal services inside the United States while you were a nonresident alien and you met the three conditions, described earlier, under Employees of foreign persons, organizations, or offices . Printable tax forms 2011 At the time the first amount is paid as an annuity under the plan (or by the trust), 90% or more of the employees for whom contributions or benefits are provided under the annuity plan (or under the plan of which the trust is a part) are U. Printable tax forms 2011 S. Printable tax forms 2011 citizens or residents. Printable tax forms 2011   If the annuity qualifies under condition (1) but not condition (2) above, you do not have to include the amount in income if: You are a resident of a country that gives a substantially equal exclusion to U. Printable tax forms 2011 S. Printable tax forms 2011 citizens and residents, or You are a resident of a beneficiary developing country under Title V of the Trade Act of 1974. Printable tax forms 2011   If you are not sure whether the annuity is from a qualified annuity plan or qualified trust, ask the person who made the payment. Printable tax forms 2011 Income affected by treaties. Printable tax forms 2011   Income of any kind that is exempt from U. Printable tax forms 2011 S. Printable tax forms 2011 tax under a treaty to which the United States is a party is excluded from your gross income. Printable tax forms 2011 Income on which the tax is only limited by treaty, however, is included in gross income. Printable tax forms 2011 See chapter 9. Printable tax forms 2011 Gambling Winnings From Dog or Horse Racing You can exclude from your gross income winnings from legal wagers initiated outside the United States in a parimutuel pool with respect to a live horse or dog race in the United States. Printable tax forms 2011 Gain From the Sale of Your Main Home If you sold your main home, you may be able to exclude up to $250,000 of the gain on the sale of your home. Printable tax forms 2011 If you are married and file a joint return, you may be able to exclude up to $500,000. Printable tax forms 2011 For information on the requirements for this exclusion, see Publication 523. Printable tax forms 2011 This exclusion does not apply to nonresident aliens who are subject to the expatriation tax rules discussed in chapter 4. Printable tax forms 2011 Scholarships and Fellowship Grants If you are a candidate for a degree, you may be able to exclude from your income part or all of the amounts you receive as a qualified scholarship. Printable tax forms 2011 The rules discussed here apply to both resident and nonresident aliens. Printable tax forms 2011 If a nonresident alien receives a grant that is not from U. Printable tax forms 2011 S. Printable tax forms 2011 sources, it is not subject to U. Printable tax forms 2011 S. Printable tax forms 2011 tax. Printable tax forms 2011 See Scholarships, Grants, Prizes, and Awards in chapter 2 to determine whether your grant is from U. Printable tax forms 2011 S. Printable tax forms 2011 sources. Printable tax forms 2011 A scholarship or fellowship is excludable from income only if: You are a candidate for a degree at an eligible educational institution, and You use the scholarship or fellowship to pay qualified education expenses. Printable tax forms 2011 Candidate for a degree. Printable tax forms 2011   You are a candidate for a degree if you: Attend a primary or secondary school or are pursuing a degree at a college or university, or Attend an accredited educational institution that is authorized to provide: A program that is acceptable for full credit toward a bachelor's or higher degree, or A program of training to prepare students for gainful employment in a recognized occupation. Printable tax forms 2011 Eligible educational institution. Printable tax forms 2011   An eligible educational institution is one that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities. Printable tax forms 2011 Qualified education expenses. Printable tax forms 2011   These are expenses for: Tuition and fees required to enroll at or attend an eligible educational institution, and Course-related expenses, such as fees, books, supplies, and equipment that are required for the courses at the eligible educational institution. Printable tax forms 2011 These items must be required of all students in your course of instruction. Printable tax forms 2011 However, in order for these to be qualified education expenses, the terms of the scholarship or fellowship cannot require that it be used for other purposes, such as room and board, or specify that it cannot be used for tuition or course-related expenses. Printable tax forms 2011 Expenses that do not qualify. Printable tax forms 2011   Qualified education expenses do not include the cost of: Room and board, Travel, Research, Clerical help, or Equipment and other expenses that are not required for enrollment in or attendance at an eligible educational institution. Printable tax forms 2011 This is true even if the fee must be paid to the institution as a condition of enrollment or attendance. Printable tax forms 2011 Scholarship or fellowship amounts used to pay these costs are taxable. Printable tax forms 2011 Amounts used to pay expenses that do not qualify. Printable tax forms 2011   A scholarship amount used to pay any expense that does not qualify is taxable, even if the expense is a fee that must be paid to the institution as a condition of enrollment or attendance. Printable tax forms 2011 Payment for services. Printable tax forms 2011   You cannot exclude from income the portion of any scholarship, fellowship, or tuition reduction that represents payment for past, present, or future teaching, research, or other services. Printable tax forms 2011 This is true even if all candidates for a degree are required to perform the services as a condition for receiving the degree. Printable tax forms 2011 Example. Printable tax forms 2011 On January 7, Maria Gomez is notified of a scholarship of $2,500 for the spring semester. Printable tax forms 2011 As a condition for receiving the scholarship, Maria must serve as a part-time teaching assistant. Printable tax forms 2011 Of the $2,500 scholarship, $1,000 represents payment for her services. Printable tax forms 2011 Assuming that Maria meets all other conditions, she can exclude no more than $1,500 from income as a qualified scholarship. Printable tax forms 2011 Prev  Up  Next   Home   More Online Publications