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| Re: Taxable Fellowship Stipends? | ||
Re: Taxable Fellowship Stipends? bloksberg-Fireovid 17 Apr 2002 12:55 EST
Please call me at 301-975-5457. Thank you At 01:44 PM 4/11/2002 -0500, you wrote: >Marie: > >According to the guidelines we generally follow, fellowships are considered >compensation and are taxable if there obligations associated with the >award. Obligations could be current or future service requirements such as >conducting research, teaching in a certain location, practicing medicine in >underserved rural area, or a requirement to pay back the award if you do >not complete your program of study, etc. In short, the fellowship should >be a scholarship to be tax free. Even if it is not compensation there are >other IRS requirements including being a degree candidate, an absence of >restrictions on items of expenditure, and the extent to which the funds >cover tuition, fees, books, and supplies (the excess may be taxable). > >NACUBO has a detailed publication on this issued in February, 2001 written >by Diane Cornell and Mary Rauschenberg. > >Jeff Myers >Southern Illinois University > >At 03:53 PM 4/10/02 -0400, Marie Smith wrote: >>Hi All >> >>I just had a very distraught student come in to my office. He is receiving >>a federal fellowship stipend. He was told by the awarding agency that it is >>not taxable. H&R Block did his taxes last year and told him that it was not >>taxable. He received no 1099 or other forms indicating that he needed to >>pay taxes. He just received an e-mail from his program officer saying that >>his stipend is, indeed, taxable. >> >>If anyone has had experience with this, I would appreciate any insight you >>can give. >> >>THANKS, >>Marie >> >> >> >>%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% >>Marie F. Smith, CRA >>Manager of Grants Administration >>Institute of Ecosystem Studies >>PO Box AB, 65 Sharon Turnpike >>Millbrook, NY 12545 >>Tel: 845-677-5343 >>Direct Line: 845-677-7600 x 202 >>FAX: 845-677-5976 >>E-mail: xxxxxx@ecostudies.org >>http://www.ecostudies.org >> >> >>====================================================================== >> Instructions on how to use the RESADM-L Mailing List, including >> subscription information and a web-searchable archive, are available >> via our web site at http://www.hrinet.org (click on "Listserv Lists") >>====================================================================== > > >====================================================================== >Instructions on how to use the RESADM-L Mailing List, including >subscription information and a web-searchable archive, are available >via our web site at http://www.hrinet.org (click on "Listserv Lists") >====================================================================== ************************************************* ** ** ** Robert Bloksberg-Fireovid ** ** ph: 301-975-5457 ** ** fax: 301-548-1087 ** ** NIST ** ** 100 Bureau Drive, Stop 4730 ** ** Gaithersburg, MD 20899-4730 ** ** http://www.atp.nist.gov ** ** ** ************************************************* ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================