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What, if any, are the tax consequences to the Reddings of the tuition discount the...

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Accounting

What, if any, are the tax consequences to the Reddings of the tuition discount the first year that all three children are in school?
A portion of the tuition discount will be considered taxable income based on IRS guideline tables
The tuition discount will not be considered taxable income for the Reddings
The tuition discount will be considered taxable income for the Reddings
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