Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site lcuxc.UUCP Path: utzoo!watmath!clyde!burl!ulysses!gamma!pyuxww!lcuxc!wjm From: wjm@lcuxc.UUCP (B. Mitchell) Newsgroups: net.taxes Subject: Re: Graduate Student Stipends Message-ID: <313@lcuxc.UUCP> Date: Fri, 1-Mar-85 11:59:32 EST Article-I.D.: lcuxc.313 Posted: Fri Mar 1 11:59:32 1985 Date-Received: Sat, 2-Mar-85 05:03:05 EST Organization: Bell Communications Research, Inc. Lines: 18 In the United States, scholarships and other stipends are generalkly exempt from Federal Income Tax (and therefore from most state income taxes) IF they are outright grants (such as scholarships and fellowships) or if they are payment for work that is REQUIRED for your degree requirements. Therefore, if you are required to complete a thesis for your degree a research assistantship for your thesis project is not taxable income. However, since most grad students are NOT required to teach to get their degrees (although education majors may be an exception), most teaching assistantships are taxable income. Check with the financial aid office at your school - they can tell you what part of your stipend is and isn't taxable. Also get the IRS publication on "Educational Expenses" or "Income". I don't remember the number - you can also get Publication 17 "Your Federal Income Tax" from the IRS, which covers all aspects of US Federal Income Tax and cross references these other publications. The best part of these is that they are official IRS information, and are FREE for the asking from the IRS Regards, Bill Mitchell ({ihnp4!}lcuxc!wjm)