Yes, Segal AmeriCorps Education Awards are taxable in the year they are paid. According to the information provided, these awards are considered taxable income. If the payment amount is $600 or more during the year, you should receive a Form 1099-MISC, Miscellaneous Income, which will show the amount of the award in box 3, Other Income. You are required to report the payment amount on line 8i of Schedule 1 (Form 1040) and attach it to Form 1040, U.S. Individual Income Tax Return, or Form 1040-SR, U.S. Tax Return for Seniors, even if you do not receive Form 1099-MISC.
Sources:
Publication 4268 (8/2022)
Publication 970 (2023)
Publication 1380
TAM 9525004
IRS FAQ
§ 117. Qualified scholarships
PLR 9441030
