Q: How do I figure out whether the scholarships I won in my senior year in college are taxable?

A: The answer can be tricky. In some cases, you may need the brilliance and perseverance of a Rhodes Scholar to figure it out. And even the most gifted scholars may need to consult a tax pro.

The Internal Revenue Service says that if you win a scholarship or fellowship, "all or part" of what you receive "may be tax-free."

Qualified scholarship and fellowship grants are considered tax-free by the IRS if you meet these conditions:

You are a candidate for a degree at an educational institution that has "a regular faculty and curriculum" and that "normally has a regular enrolled body of students in attendance at the place where it carries on its educational activities."

The amounts you receive are used for "tuition and fees required for enrollment or attendance at the educational institution, or for books, supplies, and equipment required for courses of instruction."

Now for the bad news: You generally have to include in your gross income the amounts you receive for what the IRS considers "incidental expenses."

That includes such items as "room and board, travel, optional equipment, and generally amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant."

That means any scholarship or fellowship amounts used to pay these costs "are taxable."

There are some exceptions, however. You don't have to include in gross income anything you receive for services required by the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.

For more details -- including a worksheet and hypothetical examples -- see IRS Publication 970, "Tax Benefits for Education," at irs.gov.