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I am confused about how to file my student stipend - I

I am confused about...

I am confused about how to file my student stipend - I received no forms for it.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

I am a phd student; I started this fall (sept). I have a 1098T form that lists tuition and a scholarship (which was not granted toward me, so I'm not sure what it actually means). I get a stipend monthly (I know the amount I have received) but it is not taxed and I have no forms for it.

Accountant's Assistant: Is there anything else the Accountant should be aware of?

I moved this year from Georgia to MA

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Answered in 13 minutes by:
3/14/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,633
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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A stipend is a living allowance and is generally taxable. In no instance is a stipend a payment involving services as it relates to work. Stipends include payments to the student or credits to a student’s account other than those defined as non-taxable fellowships. The credit results in the issuance of a check through Accounts Payable or Payroll. The funds may be considered taxable income to the recipient, but are not reported as taxable income by the University on Forms W-2, 1098T, 1042-S (reporting for NonResident Aliens, “NRAs”) or 1099-MISC.

Report it on line 7 as wages and list SCH beside it.

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Customer reply replied 1 month ago
Hi Robin, thank you for your answer. Can I ask a follow up question? First, do you happen to know what the scholarship listed ion my 1098T represents, since it was not payment toward me (that I can tell)? Also, do you know how to report the income on line 7 using Turbotax by chance?

It was paid directly to the university. It could be for healthcare (that seems new at Columbia) but I cannot say for sure. You just cannot use that amount for calculating any education credit. Other than that ignor it. As long as it is not more than the Tuition amount.

You are most welcome.
A positive 5 star rating is appreciated so I am credited for assisting.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,633
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D. and 87 other Tax Specialists are ready to help you
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Customer reply replied 1 month ago
Thank you!

You are most welcome. Do well up there for GA.

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