Jump to content

Taxes on fellowship?


Recommended Posts

Hi guys,

I have a fellowship stipend for $28500 a year for the first two years in my program. Does anyone know how much I should put aside for taxes? I'm a US citizen in California.

Also, how could the IRS find out if someone used the stipend for room and board (taxable) vs books (not taxable). Are there any tips and tricks for minimizing the taxes I have to pay?

All advice is appreciated!

Link to comment
Share on other sites

They can audit you, and you'd have to show receipts for the books you purchased, and that they were required for a class. 


If you're single, I'd say about 4-5k for federal, and being as it's Cali, another few K for state taxes, I'd guess. 


You can use any of a number of tax calculators out there. 


Also a good chance you'll need to pay estimated taxes through the year to avoid a year end penalty. 


4 or 5 good threads on this from the last year. 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...

Important Information

This website uses cookies to ensure you get the best experience on our website. See our Privacy Policy and Terms of Use