Graduate Student in Korea

Forum|Forum|2 years ago
March 10, 2024
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I am a US citizen working on my masters degree in South Korea Ewha Womens University and receive a stipend and tuition reimbursement from the school. Do i need to report this income as wages earned and how would i go about doing that using TurboTax?

Hal_Al

Employee

Yes. U.S. citizens must report their world wide income.

After answering no to having a 1098-T, answer yes to qualifying for an exception (that gets you to the entry screens). You will have to go thru the whole education interview to get to the scholarship screen. At the scholarship screen, enter the amount of the grant and/or stipend. When asked if any was used for room and board, answer yes. Then enter the amount you want to be taxable (usually all of it), in the pop up box. R&B are not "qualified educational expenses". So, this is how you tell TT that it is taxable. Note the wording at that screen “or other expenses”. You didn’t have to literally use the scholarship for R&B. This will put it on line 8r of Schedule 1 (this line is new for 2022-3).

If you do have a 1098-T, one of the follow-up questions will be do you have any scholarships not shown on the 1098-T. Enter the additional scholarship/stipend there.