Sunday, December 18, 2011

Is a stipend considered a wage and/or salary?

Yes, unless perhaps there is some special cirstance, such as the stipend is paid by the government, or it's due to disability or a lawsuit, then it's the same as your regular wages and would be taxable. If they send you a tax form, that will tell you how to report it. If they don't, you'd still be required to report it either on Schedule C, or as miscellaneous income.

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