REU Stipend Tax Question

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WhoaNonstop
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Joined: Mon Sep 21, 2009 1:31 am

REU Stipend Tax Question

Postby WhoaNonstop » Mon Jan 24, 2011 2:46 pm

Alright, so just a quick question. I participated in an REU this past summer and when receiving the checks from the University, I realized there were no taxes withheld. I'm assuming in general this income is taxable, however I'd like to hear feedback from others that this is indeed the case. Thanks.

-Riley

badphysicist
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Joined: Sat Nov 13, 2010 11:20 pm

Re: REU Stipend Tax Question

Postby badphysicist » Mon Jan 24, 2011 3:09 pm

If the REU stipend is the same as a student research portion of a grant then yes you'll need to put that down as taxable income. I'm an RA for my PI, though the taxes from that money has been withheld.

These may help, but I think your answer is: probably.

http://talk.collegeconfidential.com/par ... xable.html

http://www.nsf.gov/nsf/nsfpubs/nsf96102/nsf96102.htm
[Special Note: A grantee may pay stipends as scholarships or wages as it determines appropriate. In either case, money received by individuals may be taxable income under the Internal Revenue Code of 1986 and may also be subject to state or local taxes. Grantees should provide students with copies of the United States Internal Revenue Service Publication 4, 'Student's Guide to Federal Income Tax.' If stipends are paid as scholarships, grantees are also encouraged to provide copies of IRS Publication 520, 'Scholarships and Fellowships,' to participants. Questions regarding applicable Federal taxes should be directed to the IRS. Grantees should also provide participants with information on any applicable state or local taxes.]

axiomofchoice
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Re: REU Stipend Tax Question

Postby axiomofchoice » Mon Jan 24, 2011 4:09 pm

I'm pretty sure it is taxable (and had paid Uncle Sam plenty of money on it already). One REU student I know, her advisor paid her MORE than the rest of us REU students in the same program so that she actually receive the actual amount after tax. Lucky her :)

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WhoaNonstop
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Re: REU Stipend Tax Question

Postby WhoaNonstop » Mon Jan 24, 2011 4:25 pm

axiomofchoice wrote:I'm pretty sure it is taxable (and had paid Uncle Sam plenty of money on it already). One REU student I know, her advisor paid her MORE than the rest of us REU students in the same program so that she actually receive the actual amount after tax. Lucky her :)


Yeah, I was pretty sure it would be, but either way I get a refund. ;) Thanks for the feedback.

-Riley

axiomofchoice
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Joined: Thu Feb 05, 2009 11:45 pm

Re: REU Stipend Tax Question

Postby axiomofchoice » Mon Jan 24, 2011 7:23 pm

WhoaNonstop wrote:Yeah, I was pretty sure it would be, but either way I get a refund. ;) Thanks for the feedback.

-Riley


Well if the REU stipend is all you got, you might be below the minimum filing amount so you might not need to file tax form at all. I, on the other hand, got a little too much scholarship from my school on top of the REU stipend, and had to pay the government instead of getting a refund because tax was not withheld from either my REU stipend or scholarship :( I mean, the amount of money I have at hand is the same either way, but I rather have the tax withheld from the beginning than having to pay at the end of the year.

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WhoaNonstop
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Re: REU Stipend Tax Question

Postby WhoaNonstop » Mon Jan 24, 2011 7:27 pm

Pfft no reason to complain about scholarships! And I'll need to file I'm a workaholic!

-Riley




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