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Scholarship payments paid directly to students
September 16, 2022
Q. We have a program at work where we are giving out scholarship payments to the applicable college/university for tuition. For one of the scholarships, we are making the payment payable to the individual student instead of the college/university. Are we required to report the payment on a 1099 or other form for the one that is paid directly to the student?
A.
(Answered by IOFM's third-party tax experts)
If the student is a U.S. citizen or permanent resident, and the scholarship award is not…
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