TITX Posted April 5, 2019 Posted April 5, 2019 I was wondering if any current graduate students could tell me if stipends are taxed and, if so, how much is it taxed? Any info is much appreciated! epi_hopeful19 1
jriveracal Posted April 5, 2019 Posted April 5, 2019 I'd like to follow this topic. I have two kids...not sure if I will have to pay taxes on my stipend
pineapplepizza Posted April 6, 2019 Posted April 6, 2019 Mine is. My letter of funding stated that it’s taxable. I would ask your school about specifics.
magnetite Posted April 6, 2019 Posted April 6, 2019 Mine will be taxed as well. Both federally and at the state level. I've also read that if your funding package includes payment of tuition, it's possible that could be taxed, too. See the article below: http://pfforphds.com/prepare-grad-student-tax-return/
PokePsych Posted April 6, 2019 Posted April 6, 2019 Yes, but only the portion that doesn't go to tuition (so living expenses etc). In general you pay federal and state depends on the state (e.g., I do on my income portion but not my fellowship portion). If you fall under some tax treaty you may not have to pay the fellowship part, but you'd still have to pay the income (RA/TA, etc.) part.
NotAlice Posted April 6, 2019 Posted April 6, 2019 I'm a TA who gets a stipend and tuition remission. My stipend is paid monthly and treated as income. I received a W2 at the end of the year.
Glasperlenspieler Posted April 6, 2019 Posted April 6, 2019 Generally speaking: stipends are income and are taxed accordingly. Despite a close call involving shithead Republicans in congress, tuition waivers and scholarships used to pay for tuition are still tax free. brightorangesocks, magnetite, Revenir and 2 others 3 2
cavalior7005 Posted April 7, 2019 Posted April 7, 2019 Does anyone have experience with scholarships being taxed? I have my base stipend and then additional funding from a scholarship I received - I think they might be taxed separately?
MathCat Posted April 7, 2019 Posted April 7, 2019 47 minutes ago, cavalior7005 said: Does anyone have experience with scholarships being taxed? I have my base stipend and then additional funding from a scholarship I received - I think they might be taxed separately? I'm in California - both my stipend and fellowship amounts are taxed at the same rate federally. I believe California does not tax the fellowship, but does tax the stipend.
PokePsych Posted April 8, 2019 Posted April 8, 2019 15 hours ago, cavalior7005 said: Does anyone have experience with scholarships being taxed? I have my base stipend and then additional funding from a scholarship I received - I think they might be taxed separately? TA/RA-ships are taxed for me; fellowship seems to be not.
maya123z Posted April 8, 2019 Posted April 8, 2019 11 minutes ago, Psygeek said: TA/RA-ships are taxed for me; fellowship seems to be not. Your fellowship is probably still taxed, but taxes are not automatically withheld. If it's going toward living expenses and not just tuition, you need to pay estimated taxes 4x per year. You should be sure to pay this if you haven't been doing it so far, or else you can get slapped with a big fee if you're ever audited. Teaching Faculty Wannabe 1
PokePsych Posted April 8, 2019 Posted April 8, 2019 13 minutes ago, maya123z said: Your fellowship is probably still taxed, but taxes are not automatically withheld. If it's going toward living expenses and not just tuition, you need to pay estimated taxes 4x per year. You should be sure to pay this if you haven't been doing it so far, or else you can get slapped with a big fee if you're ever audited. This is different for international students depending on your tax treaty.
maya123z Posted April 8, 2019 Posted April 8, 2019 4 hours ago, Psygeek said: This is different for international students depending on your tax treaty. Ah yes you're correct just a PSA for US citizens though, don't forget to pay your estimated taxes!
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