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-   -   University gifts to students - limit? (https://www.askmehelpdesk.com/showthread.php?t=146581)

  • Oct 30, 2007, 07:14 AM
    tschmanke
    University gifts to students - limit?
    At our state universities, cash gifts are given to students as awards for various programs. These students are US residents. Is there a limit as to how much a student can receive per year? If they receive a total of $600 from any state agency source in a calendar year, we do issue a 1099. Just wondering if there is any kind of legal limit.
  • Oct 30, 2007, 07:50 AM
    AtlantaTaxExpert
    There is NO legal limit that I know of, as long as the amounts are properly reported using Form 1099, which apparently they are.
  • Oct 30, 2007, 07:56 AM
    tschmanke
    Thank you. I didn't think there was. It's so hard to really find answers on the IRS site.
  • Oct 30, 2007, 11:49 AM
    AtlantaTaxExpert
    Glad to help!

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