Am I required to send a 1099 to a student for a scholarship?
- 02 Feb 2023
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Am I required to send a 1099 to a student for a scholarship?
- Updated on 02 Feb 2023
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Is it a requirement that scholarship recipients (students) receive a Form 1099?
Answer:
This information is subject to change, but as of 2015 IRS filing instructions, most scholarships do not require 1099's.
IRS Form 1099MISC must be issued to each U.S. independent contractor that has received payments in the calendar year that total US $600 or more for services (including parts and materials). Form 1099MISC must also be issued to U.S. individuals that receive awards, honorariums, and prizes in the calendar year that total US $600 or more. 1099's are not issued for scholarships and fellowships.
Please check with your auditor for more information.
IRS Form 1099MISC must be issued to each U.S. independent contractor that has received payments in the calendar year that total US $600 or more for services (including parts and materials). Form 1099MISC must also be issued to U.S. individuals that receive awards, honorariums, and prizes in the calendar year that total US $600 or more. 1099's are not issued for scholarships and fellowships.
Please check with your auditor for more information.
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