_____ 7.Payment to a college for a grandchild's tuition is not a taxable gift.

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According to the IRS, payments made directly to an educational institution for tuition expenses are not considered taxable gifts, regardless of the amount. This rule applies to payments made for the benefit of a grandchild as well. However, it is important to note that this only applies to tuition payments and does not include other education-related expenses such as room and board or books.

_____ 7Payment to a College for a Grandchild's Tuition Is Not