College stipend not reported on any tax form

Forum|Forum|4 years ago
January 29, 2022
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Hello all. It is tax season and I am very confused on couple stipends I have receive over the year. I am a college senior in PA. I have 2 w-2s for this year. One as an office assistant in the college (~$1600) and one as deli associate in local grocery store in PA (~$3400). Which should be easy using turboTax. However, I have also received stipend for my summer research on the same campus ($3000 + free housing and meals), and resident assistant ($2500 + $2500 housing credits). The housing credit is reflected on my 1098-T. For both of those stipends, I did not receive any Tax forms, school asked me to fill out w-9s. So I am a bit confused on how should I file these. College's statement is the following: Domestic students currently matriculated receiving stipends will not receive a tax form at the end of the year from the college reporting what you have been paid. However, you may need to report this income. Please note that the housing and meal plan benefit included as part of your participation may also be taxable. Please discuss this with your tax preparer if you have any questions.

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Hal_Al

Employee

Yes, that is taxable, stipend for my summer research on the same campus ($3000 + free housing and meals), and resident assistant ($2500 + $2500 housing credits). You say the $2500 housing credit has already been added to box 5 of your 1098-T.

Although it's fairly clear, that it's taxable, how to enter is not that clear cut. I would enter it as scholarship. After entering your 1098-T, you will reach a screen asking if you has any scholarships not shown on the 1098-T. Enter an amount there. You may have to do an estimate for the "free housing and meals". Housing and/or meals can be tax free, when provided on (the work) site for the "convenience of the employer"*. But that's not usually applicable in a college setting.

*https://www.journalofaccountancy.com/issues/2015/jul/exclude-employer-provided-meals-and-lodging.html