You'll need to sign in or create an account to connect with an expert.
The answer to your question is that your monthly $150 stipend is tax-free only if you are pursing an academic degree (and not just a religious designation or achievement), and if the stipend is used to pay tuition or fees to your Talmudic college as a condition for
enrollment, or for specific courses. The citation for this determination is (2016) IRS Publication 970,
Page 5, which reads in part:
"Qualified education expenses
For purposes of tax-free scholarships, [stipends] and fellowship grants, these are expensesHere is a courtesy link to IRS Publication 970 (Tax Benefits For Education) for reference:
https://www.irs.gov/pub/irs-pdf/p970.pdf
Once you determine how much, if any, of your $150 monthly stipend is taxable (or if the whole annual amount you received is taxable), then you can enter it into TurboTax (and thus onto your actual tax return) by following the process outlined in the following answer, which was recently provided to a graduate student with fellowship income. Your (taxable) stipend would be entered in an identical manner to fellowship and grant income, on a US tax return. Here is a clickable link to that discussion:
https://ttlc.intuit.com/questions/3736253
The answer to your question is that your monthly $150 stipend is tax-free only if you are pursing an academic degree (and not just a religious designation or achievement), and if the stipend is used to pay tuition or fees to your Talmudic college as a condition for
enrollment, or for specific courses. The citation for this determination is (2016) IRS Publication 970,
Page 5, which reads in part:
"Qualified education expenses
For purposes of tax-free scholarships, [stipends] and fellowship grants, these are expensesHere is a courtesy link to IRS Publication 970 (Tax Benefits For Education) for reference:
https://www.irs.gov/pub/irs-pdf/p970.pdf
Once you determine how much, if any, of your $150 monthly stipend is taxable (or if the whole annual amount you received is taxable), then you can enter it into TurboTax (and thus onto your actual tax return) by following the process outlined in the following answer, which was recently provided to a graduate student with fellowship income. Your (taxable) stipend would be entered in an identical manner to fellowship and grant income, on a US tax return. Here is a clickable link to that discussion:
https://ttlc.intuit.com/questions/3736253
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
megane
New Member
Raph
Community Manager
nessa1614
Level 1
Raph
Community Manager
chinths
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.