If you receive a scholarship, a fellowship grant, or other grant, all or part of the amounts you receive may be tax-free. Scholarships, fellowship grants, and other grants are tax-free if you meet the following conditions, according to IRS.com.
- You're a candidate for a degree at an educational institution that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities; and
- The amounts you receive are used to pay for tuition and fees required for enrollment or attendance at the educational institution, or for fees, books, supplies, and equipment required for courses at the educational institution.
Research is not included in the description above so this is taxable income. here is how to report.
- Go to federal>income and expenses>all income>>show more
- Less Common Income> Start
- Miscellaneous Income,>start
- Other reportable income>start
- Next screen asks Any Other Taxable Income>yes
- The next screen will allow you to report the fellowship income with a brief explanation.
To report, you will use the conversion rate at the time the fellowship was paid to you.
@Sohal
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