<p>I agree that he will likely not owe any (at least not much) fed income taxes, as he did not earn much (like those in the bottom 47% :)) and the life-time education credit could help him. (say, 20% of 20k is 4k in education credit. There is no way he would pay 4k in taxes.) He still needs to report it as he received this as a result of his services in the research lab. I also think this will be treated as self-employment tax as the school did not issue a W2. (I am surprised he has not received 1099-MISC also, as Kdog said.)</p>
<p>I am more concerned about medicare and social security taxes as reported in schedule SE, not at all concerned about federal income tax.</p>
<p>The following is from IRS publication 970:</p>
<p>Payment for services. Generally, you must include in income the part of any scholarship or fellowship that represents payment for teaching, research, or other services required as a condition for receiving the scholarship. This applies even if all candidates for a degree must perform the services to receive the degree. (See below for exceptions.)</p>
<p>Exceptions. You do not have to include in income the part of any scholarship or fellowship that represents payment for teaching, research, or other services if you receive the amount under:</p>
<pre><code>The National Health Service Corps Scholarship Program, or
The Armed Forces Health Professions Scholarship and Financial Assistance Program,
</code></pre>
<p>and you:</p>
<pre><code>Are a candidate for a degree at an eligible educational institution, and
Use that part of the scholarship or fellowship to pay qualified education expenses.
</code></pre>
<p>Was talking with D1 over the weekend. There is “I just turned 18” year old MS1 at her school. Kid was homeschooled and started college OOS (!!) at 15, graduated in <3 years and applied to med school, was accepted and began med school at 17!</p>
<p>Not sure that’s healthy. And I have a kid who graduated HS at 15 and another kid who is in med school. I am just not sure that person has had enough opportunity to explore life before committing to the 10+/- years of intense scheduling.</p>
<p>I also graduated hs at 15. I really believe this should be an option that’s actively supported by public school administrators. There’s no reason to spend a fourth year in high school if there’s nothing to do. I did choose to stay in college the full 4 years, mainly because I’m having too much fun and there seems to be an infinite offering of classes to take :)</p>
<p>@iwbB,
</p>
<p>Had an interesting conversation about him last summer while at WashU. They rejected him outright. It seems very few schools are willing to take a chance like that. Pritzker did him a big favor.</p>
<p>In some career, IMHO, the life experience besides academics really count, at least as perceived by those who are on the receiving end of the service.</p>
<p>One of my friends once saw a psycologist who happens to be very young. The patient, who is in her 60s, said after seeing her that she just does not feel right when the psycologist has so little life experiences as compared to her (more than 30 years less.)</p>
<p>Also, it appears that most pastors/priests tend to be reasoably “aged.”</p>
<p>On the other hand, I heard theoritical physicists and mathmaticians tend to be more productive before 30. Even in the academia, in some field, it tends to take many years before a person could accomplish something significant, or the world would recognize the significance of his/her achievement (if not lucky, not recognized in his/her life time.)</p>
<p>Well on other news for mere mortal med students, mine is having surgery in 2 weeks to repair a skiing injury to her ACL, MCL, miniscus, and some tendon. She’s been either on crutches and lately a hip to ankle walking brace for nearly 2 months. I am going back up there for the surgery in 2 weeks. She opted for the whatever tendon (?) thing to be taken from her calf muscle. Those of you in the know, is that the best choice?</p>
<p>Haha Kristin, I have heard from her the term the terrible triad. She at least thought it was cool that she knew what was going on with the gimpy leg. In all seriousness, the atrophy of the leg is huge!</p>
<p>Thanks all. Worst part of it was it was her first time skiing and she thought she would take advantage of an all day $20 lift ticket at her schools skiway. Well that $20 lift ticket is going to turn into who knows how much. She was always a swimmer and a rower, and I have ordered her to stick to non frozen water sports from now on.</p>
<p>^^^^Middle daughter was also a swimmer and diver and wanted to snowboard SOOOO bad. But she knew “the rules” no wheels, blades or snow! Since she was a D1 athlete she ended up not taking up the “snow” sports until after nationals. That however, did not stop her from cliff diving. She said, “it was a water sport Mom!”</p>
<p>She did not injure herself with her “rec” sports but rather diving 10m tower, wrenching her shoulder on a bad entry. Still hear about that one til this day, probably til the cows come home.</p>
<p>Silly boy managed to emerge with a small injury from college ball, and still runs every day. Gamom I really do feel terrible for your daughter and for you. The stress of worrying must really SUCK, and she must be in a lot of pain. On top of ms studies and ongoings this must be difficult for her. How long will you be up there with her? Is the weather still really cold there?</p>
<p>Funny kiddos wanting to go so far, far away. Told the boy that when he was deciding on med schools, he and his sibs went far away for undergrad and while they really enjoyed themselves he was able to look back and say for med school maybe staying closer to home won’t be so TERRIBLE. Hmpft.</p>
<p>He does like his home cooked meals and me fussing on weekends, heck even during the week! Will see about residencies…</p>
<p>D1 shows up for dinner whenever she’s feeling stressed or blue or tired of cooking for herself. (Or sometime just to be nice to her old mom.) She also leaves loaded down with goodies—from frozen soups to homemade breads and cake to just about everything in my pantry/freezer. (Grocery shopping at mom’s house…) I keep telling her to tell her sister that attending the University Near Mom SOM is not a bad thing…</p>
<p>Mom came to visit last week “just for fun.” We went out to lunch, went shopping, got groceries, and visited with my grandmother. She brought all my fav things from Trader Joe’s (we don’t have one here!! Boo!) and some stuff for my “crazy neighbors” (classmates who are obsessed with TJ bruschetta and monkey mix). Everyone loves it when mom comes to visit…</p>
<p>I have a week of exams next week followed by a week of spring break–and I’ll definitely be spending some of it at home!</p>
<p>So to all you mommys out there–keep up the good work! Kids like food! And laundry! And your company! We probably complain and don’t text you back and sulk while we’re studying, but we really do love it :)</p>
She was always a swimmer and a rower, and I have ordered her to stick to non frozen water sports from now on.</p>