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Matt is a professor at TSU. Matt is a retired executive who does not need his TSU salary. After working at TSU for one year,

Matt is a professor at TSU. Matt is a retired executive who does not need his TSU salary. After working at TSU for one year, Matt tells TSU that he will no longer accept his salary and that the university should

do something worthwhile with the money

.

TSU establishes the Matt Scholarship fund and uses Matt

s salary to fund it

.

Is Matt taxed on the salary?

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