If a scholarship or fellowship is used for expenses that do not qualify for tax-free purposes, then the individual has received a nonqualified scholarship or fellowship, which is taxable. A nonqualified scholarship is income the student receives that is above the cost of required tuition, fees, books, supplies and equipment. This income is normally used for the following nonqualified education expenses:. For U. The student will not receive a Form and tax is not withheld on the income up front.
It is advised that the students contact their personal tax advisor regarding the self-reporting and tax consequences. Foreign Nationals nonresident aliens , however, are subject to tax withholding and reporting on nonqualified scholarships. Qualified education expenses for purposes of tax-free scholarships and fellowships are expenses for tuition and fees required to enroll at or attend an eligible education institution and course-related expenses, such as fees, books, supplies and equipment that are required for the course at the eligible educational institution.
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Search instead for. Did you mean:. New Member. How to report a fellowship stipend? My husband is a post doctoral for a university got paid via fellowship stipend. The university did not send home a W2 or Misc, instead they sent a letter notifying us of the grossed up amount and that all or some portion of it may be taxable. So does this mean the amount that exceeds the expenses outlined in IRS Publication will be the taxable income?
Topics: TurboTax Premier Online. Accepted Solutions. Thank you for your help! That was really useful. I ended up filing form A via TurboTax. I also found an option in TurboTax to report my stipend that I receive as a foreign income. Then I scratched it off after printing the forms. I hope I did it the right way. Thanks again! I am also a postdoc, so it is taxable income.
Where should I input it? Intuit Alumni. It will not be treated as self-employment. Click Start and again go to the bottom of the list to "Other reportable income" and click Start Continue from there.
See screenshots for assistance. The income will show as a line item on line 1 of the and not as Self-employment. That worked! I see that taxable scholarships and fellowships comes up as a choice in other income. Same here. Thank you! Not applicable.
I'm not seeing this option this year. Has anyone found it? Expert Alumni. Level 2.
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