So I answered something similar to this previously, and the article you have a link for supports the general rule that the stipend is not subject to Self-Employment tax. What is missing below is the standard deduction, which is $14,600. While adjusted gross income may be $10K in your example below after you apply the standard deduction the taxable income is $0. The tax brackets for 2024 are: 2024 Filing Status: Single, Married Filing Jointly (MFJ), and Qualifying Surviving Spouse (QSS)Tax RateSingle Taxable Income Range (2024)MFJ and QSS Taxable Income Range (2024)10%Not over $11,600Not over $23,20012%Over $11,600 but not over $47,150Over $23,200 but not over $94,30022%Over $47,150 but not over $100,525Over $94,300 but not over $201,05024%Over $100,525 but not over $191,950Over $201,050 but not over $383,90032%Over $191,950 but not over $243,725Over $383,900 but not over $487,45035%Over $243,725 but not over $609,350Over $487,450 but not over $731,20037%Over $609,350Over $731,2002024 Filing Status: Head of Household (HOH) and Married Filing Separately (MFS)Tax RateHOH Taxable Income Range (2024)MFS Taxable Income Range (2024)10%Not over $16,550Not over $11,60012%Over $16,550 but not over $63,100Over $11,600 but not over $47,15022%Over $63,100 but not over $100,500Over $47,150 but not over $100,52524%Over $100,500 but not over $191,950Over $100,525 but not over $191,95032%Over $191,950 but not over $243,700Over $191,950 but not over $243,72535%Over $243,700 but not over $609,350Over $243,725 but not over $365,60037%Over $609,350Over $365,600 If your filing status is single the standard deduction would be $14,600 for tax year 2024. If Married Filing Jointly it is $29,200. You should be annualizing your income over the whole year. If it below the standard deduction you would have no taxable income. Thank you so much for your question @c09827 Be well and safe! Marc T. Turbo Tax Expert27 Years of Experience Helping Client

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c09827

Question

Accidental re-submit

Forum|Forum|1 year ago
August 28, 2024
1 reply
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marctu

So I answered something similar to this previously, and the article you have a link for supports the general rule that the stipend is not subject to Self-Employment tax.

What is missing below is the standard deduction, which is $14,600. While adjusted gross income may be $10K in your example below after you apply the standard deduction the taxable income is $0.

The tax brackets for 2024 are:

2024 Filing Status: Single, Married Filing Jointly (MFJ), and Qualifying Surviving Spouse (QSS)

Tax Rate	Single Taxable Income Range (2024)	MFJ and QSS Taxable Income Range (2024)
10%	Not over $11,600	Not over $23,200
12%	Over $11,600 but not over $47,150	Over $23,200 but not over $94,300
22%	Over $47,150 but not over $100,525	Over $94,300 but not over $201,050
24%	Over $100,525 but not over $191,950	Over $201,050 but not over $383,900
32%	Over $191,950 but not over $243,725	Over $383,900 but not over $487,450
35%	Over $243,725 but not over $609,350	Over $487,450 but not over $731,200
37%	Over $609,350	Over $731,200

2024 Filing Status: Head of Household (HOH) and Married Filing Separately (MFS)

Tax Rate	HOH Taxable Income Range (2024)	MFS Taxable Income Range (2024)
10%	Not over $16,550	Not over $11,600
12%	Over $16,550 but not over $63,100	Over $11,600 but not over $47,150
22%	Over $63,100 but not over $100,500	Over $47,150 but not over $100,525
24%	Over $100,500 but not over $191,950	Over $100,525 but not over $191,950
32%	Over $191,950 but not over $243,700	Over $191,950 but not over $243,725
35%	Over $243,700 but not over $609,350	Over $243,725 but not over $365,600
37%	Over $609,350	Over $365,600