Gifts or Gift Certificates, Award, or PrizesSTUDY 3

If employees are to be reimbursed for awards/prizes/gifts or gift certificates given to others, a detailed list of the names of the award/prize/gift/gift certificate recipients, as well as a designation as to whether they are TCU employees or students, must be included as supporting documentation with the reimbursement form.  The online Recipient Log for Awards/Gifts/Prizes is available to document the recipient information for reimbursements for Awards/Prizes/gifts/gift certificates.

If the award/prize/gift/gift certificate is given to a TCU employee, the value of the award/prize/gift/gift certificate is subject to inclusion on the employee’s W-2 form and to federal income taxation.  If the award/prize/gift/gift certificate is given to a TCU student, the value of the award/prize/gift/gift certificate may be reportable on Form 1099 for the student.

Since the IRS specifies that gift cards and gift certificates are cash equivalents, employee reimbursements for these expenses must include a list of recipients, including the full name of recipients, TCU ID number for employees or students (regardless of dollar value) and Social security number for nonemployees if over $100 values is provided to an individual of a gift card or gift certificate.

Gift cards may not be purchased from the TCU bookstore using the TCU departmental requisition forms.  Gift cards may not be purchased using the TCU purchasing card.