Are stipends tax-free?

<p>yes or no......</p>

<p>stipends? Do you mean grants? Scholarships?</p>

<p>I'm referring to internships that give you a stipend instead of an hourly wage.</p>

<p>Not sure what you're talking about. Work Study as part of a financial aid package? Or something else?</p>

<p>I thank the NASA SHARP $1,000 stipend earned by hs students during the summer was taxable.</p>

<p>The following is from the <a href="http://www.1040.com%5B/url%5D"&gt;www.1040.com&lt;/a> website, which is not the official IRS website!</p>

<p>Scholarships, Fellowships, and Stipends</p>

<p>Generally, a scholarship or fellowship award made on the basis of need or academic achievement is not taxable if awarded to encourage or allow the recipient to further his or her educational development. The award is taxable as compensation if given for past or present services or in expectation of
future employment.</p>

<p>Q. I received a full-tuition scholarship to attend the university, where I am enrolled as a full-time student. I received the scholarship based on my academic achievement. Do I have to claim the value of this scholarship as income or compensation?</p>

<p>A. No. The scholarship was awarded to encourage you or allow you to further your education at the institution and therefore is not taxable for PA Personal Income Tax purposes.</p>

<p>Q. What is the criteria for excluding a fellowship award or stipend from taxable compensation?</p>

<p>A. Fellowship awards and stipends are excluded as compensation, if the recipient can show:</p>

<p>(a) The benefits resulting from the services of the recipient are so minimal, given the actual services performed or expected to be performed, that they constitute no realistic basis for compensation by the institution sponsoring the fellowship or stipend; or</p>

<p>(b) The activities of the recipient are so closely and directly supervised and immediately controlled by regular faculty members so as to constitute a burden on the institution which would offset any benefit it receives from the recipients activities; or</p>

<p>(c) The recipient is a candidate for a degree, and the same activities are required for all candidates for that degree as a condition to receiving such a degree.</p>

<p>Q.I am a medical resident. Is my stipend taxable?</p>

<p>A. Stipends paid to medical interns and residents pursuant to an internship or residency program that conforms with the Essentials of an Approved Internship or the Essentials of an Approved Residency as established by the American Medical Association are taxable.</p>

<p>Q. I believe my scholarship or fellowship award is nontaxable. What proof do I need to submit?</p>

<p>A. If you believe your scholarship or fellowship is nontaxable, you must submit with your tax return an original, detailed description of the program under which you received the award. Important: You must submit an original letter, that your department head or other official signs. A form letter is not acceptable.</p>

<p><a href="http://www.wellesley.edu/cws/students/stipendfaq.html#taxes%5B/url%5D"&gt;http://www.wellesley.edu/cws/students/stipendfaq.html#taxes&lt;/a&gt;&lt;/p>

<p>Are taxes taken out of my stipend?</p>

<p>Tax information for U.S. citizens:</p>

<p>Fellowship and Scholarship Grants are not payments for services rendered but may still be taxable. The taxability is dependent upon how the funds are used. To help students determine the taxability of these payments the IRS issues Publication 970, “Tax Benefits for Education.”</p>

<p>To obtain a copy of Publication 970, go to <a href="http://www.irs.gov/publications/p970/index.html%5B/url%5D"&gt;http://www.irs.gov/publications/p970/index.html&lt;/a> The IRS publication is updated each calendar year. </p>

<p>Tax information for non-resident aliens:</p>

<p>Fellowship and Scholarship payments made to non-resident aliens are subject to a 14% federal tax withholding. Tax treaty provisions may allow non-resident aliens to claim exemption from federal tax withholding on teaching assistantships and fellowships. The IRS requires the college to report fellowship and scholarship payments to non-residents aliens on a 1042-S form. Non-resident aliens are required to file Form 1040NR each calendar year using the information provided on Form 1042-S. To help students determine the taxability of these payments the IRS issues Publication 970, “Tax Benefits for Education.” </p>

<p>To obtain a copy of Publication 970, go to <a href="http://www.irs.gov/publications/p970/index.html%5B/url%5D"&gt;http://www.irs.gov/publications/p970/index.html&lt;/a> The IRS publication is updated each calendar year.</p>