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Should we issue 1099s to medical students for stipends?
January 10, 2024
Q. Medical fellows (students) were given a stipend for books, travel, equipment , etc. for 2023. My company paid the fellows. Meanwhile the hospital has reimbursed us for those payments. Should we 1099 these fellows or the hospital?
If the hospital says they will do it, how will we know? Will a memo be documentation enough for due diligence if an audit should arise?
A.
(Answered by IOFM's third-party tax experts)
If the hospital had the management or oversight authority for this (for example,…
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