You'll need to sign in or create an account to connect with an expert.
So I answered something similar to this previously, and the article you have a link for supports the general rule that the stipend is not subject to Self-Employment tax.
What is missing below is the standard deduction, which is $14,600. While adjusted gross income may be $10K in your example below after you apply the standard deduction the taxable income is $0.
The tax brackets for 2024 are:
2024 Filing Status: Single, Married Filing Jointly (MFJ), and Qualifying Surviving Spouse (QSS)
Tax Rate |
Single Taxable Income Range (2024) |
MFJ and QSS Taxable Income Range (2024) |
10% |
Not over $11,600 |
Not over $23,200 |
12% |
Over $11,600 but not over $47,150 |
Over $23,200 but not over $94,300 |
22% |
Over $47,150 but not over $100,525 |
Over $94,300 but not over $201,050 |
24% |
Over $100,525 but not over $191,950 |
Over $201,050 but not over $383,900 |
32% |
Over $191,950 but not over $243,725 |
Over $383,900 but not over $487,450 |
35% |
Over $243,725 but not over $609,350 |
Over $487,450 but not over $731,200 |
37% |
Over $609,350 |
Over $731,200 |
2024 Filing Status: Head of Household (HOH) and Married Filing Separately (MFS)
Tax Rate |
HOH Taxable Income Range (2024) |
MFS Taxable Income Range (2024) |
10% |
Not over $16,550 |
Not over $11,600 |
12% |
Over $16,550 but not over $63,100 |
Over $11,600 but not over $47,150 |
22% |
Over $63,100 but not over $100,500 |
Over $47,150 but not over $100,525 |
24% |
Over $100,500 but not over $191,950 |
Over $100,525 but not over $191,950 |
32% |
Over $191,950 but not over $243,700 |
Over $191,950 but not over $243,725 |
35% |
Over $243,700 but not over $609,350 |
Over $243,725 but not over $365,600 |
37% |
Over $609,350 |
Over $365,600 |
If your filing status is single the standard deduction would be $14,600 for tax year 2024. If Married Filing Jointly it is $29,200.
You should be annualizing your income over the whole year. If it below the standard deduction you would have no taxable income.
Thank you so much for your question @c09827
Be well and safe!
Marc T.
Turbo Tax Expert
27 Years of Experience Helping Client
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
c09827
Returning Member
sherriltaylor80-
New Member
allasdrivingschool
New Member
user93b1870a
New Member
kenlh2020
Level 1
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.