So, in my son's case, he just graduated from college as undergrad (and thus would get a 1098-T), but this Fall, he is a graduate PhD student with a stipend. Thus, in the responses above, particularly the one that said to select "no" if he got a 1098-T, well, he did get a 1098-T as an undergrad for the tuition he paid undergrad. He is now a PhD student at a different school with a stipend. So, three questions:
1. How will he declare his income on turbotax as a stipend?
2. Does anyone have a ballpark about how much, percentage-wise, he should pay in quarterly tax payments? The reason is that part of his stipend may be offset by educational expenses, depending on which form the university uses at the end of the year (1099-misc or 1098-T). So the percentage might be lower than it would be for ordinary income. He's single with no dependents.
3. Does anyone know if PhD stipends are taxable in the state of Pennsylvania for state or local taxes?
Thanks in advance.
