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Frank is a professor at TSU. Frank is a retired executive who does not need...

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Accounting

Frank is a professor at TSU. Frank is a retired executive who does not need his TSU salary. After working at TSU for one year, Frank tells TSU that he will no longer accept his salary and that the university should do something worthwhile with the money. TSU establishes the Frank Scholarship fund and uses Franks salary to fund it. Is Frank taxed on the salary?

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