Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
lefaulk6
New Member

Is a one-time stipend taxable?

I didn't receive a 1099-R. Federal Income Taxes were withheld.  I only received a letter at the time of the direct deposit.

1 Best answer

Accepted Solutions
Leonard
Intuit Alumni

Is a one-time stipend taxable?

Yes, a one time stipend is taxable.

However, if you are paid a stipend, it isn't considered wages so you won't pay Social Security or Medicare taxes on it. But, it still counts as taxable income for income tax purposes. Your employer won't withhold any income taxes from the stipend. 

To report a stipend in TurboTax Deluxe

With TurboTax open select Federal taxes and then select Wages and Income.

Select I'll choose what I work on.

Scroll down to Less Common Income.

Select Miscellaneous Income.

Select Other reportable income, when asked Any other Taxable Income? click  yes.

Enter your stipend amount and click continue.


 

View solution in original post

1 Reply
Leonard
Intuit Alumni

Is a one-time stipend taxable?

Yes, a one time stipend is taxable.

However, if you are paid a stipend, it isn't considered wages so you won't pay Social Security or Medicare taxes on it. But, it still counts as taxable income for income tax purposes. Your employer won't withhold any income taxes from the stipend. 

To report a stipend in TurboTax Deluxe

With TurboTax open select Federal taxes and then select Wages and Income.

Select I'll choose what I work on.

Scroll down to Less Common Income.

Select Miscellaneous Income.

Select Other reportable income, when asked Any other Taxable Income? click  yes.

Enter your stipend amount and click continue.


 

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.61m
Discussions

Manage cookies
v