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 Post subject: Are my stipends showing?
PostPosted: Thu 12-10-2009 5:50PM 
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Colonel
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So, I'm in a strange predicament. After moving on from MS&T I've landed a rather nice (read: easy as shit) full time grad assistant job that pays graduate tuition plus a stipend.

What I wonder is if this income is taxable. I thought I read somewhere that both the tuition reduction and stipends were, but I've never filled out any tax information or anything. The U just hands me a check, no withholding.

I can't get a straight answer from the school so I wonder what Rolla does in these matters, or if anyone knows the actual tax law. If I don't claim it is the IRS going to hunt me down and beat me with hammers?

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 Post subject: Re: Are my stipends showing?
PostPosted: Thu 12-10-2009 7:47PM 
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being that the university is a state government entity, I doubt they are just skipping taxes. I would ask your advisor or grad department coordinator and not seek42

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 Post subject: Re: Are my stipends showing?
PostPosted: Thu 12-10-2009 9:27PM 
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Colonel
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that's a really fancy way of saying you have no clue :D just wondering if anyone knows a general precedent off the top of their head. of course I'll hunt down someone at some point.

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 Post subject: Re: Are my stipends showing?
PostPosted: Fri 12-11-2009 9:19AM 
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It depends how the stipend is set up. Nobody at the university knows, probably.

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 Post subject: Re: Are my stipends showing?
PostPosted: Fri 12-11-2009 10:58PM 
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If you don't get mailed a w2 or any other tax info then don't file it. :) You probably won't get audited anyway.

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 Post subject: Re: Are my stipends showing?
PostPosted: Mon 12-14-2009 12:53PM 
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Colonel
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cmptrnrd16 wrote:
You probably won't get audited anyway.


Sounds like a line right out of a Hollywood slasher flick. The next time he opens his shower curtain he'll find an IRS agent waiting to strike.


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 Post subject: Re: Are my stipends showing?
PostPosted: Fri 01-08-2010 4:04PM 
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Colonel
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Update: The university doesn't know, just as I thought. lol. But they said I won't get a W2, just a tuition tax form. Hmm.

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 Post subject: Re: Are my stipends showing?
PostPosted: Fri 01-08-2010 11:08PM 
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The university doesn't know because they aren't your tax attorney. Stipends fall under a different category than straight wages. They are usually taxable but there are more deductions that can be taken. I've even seen it filed under self-employment. Ask a tax person because it depends on your situation.

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 Post subject: Re: Are my stipends showing?
PostPosted: Wed 01-20-2010 5:34PM 
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if you make over 2,000ish dollars a year (that includes in kind payments ie insurance/tution) you need to file.


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 Post subject: Re: Are my stipends showing?
PostPosted: Wed 01-20-2010 10:32PM 
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Colonel
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5 days ago, the university mailed me a W2 for my TA work last semester, idk if it's the same for a research gig or not, but i would assume that it is. I don't think that the tuition coverage is taxed, i'm going to treat it like financial aid since that's what the school calls it and not include in on my 1040 EZ.

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