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Student reimbursements
January 15, 2024
Q. We reimburse students for childcare, fuel and books. They send in their receipts for the items. Do we need to send a 1099?
A.
(Answered by IOFM's third-party tax experts)
No, they wouldn't be Form 1099 reportable because they're either a grant for qualified expenses (the books) which is exempt from tax, or a nonqualified grant which could be income if not substantiated in full by receipts, but is specifically not Form 1099 reportable.
102640
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