Since my program started in August 2024, I do not qualify for the Bona Fide or Physical Presence exemptions. But $1k in taxes seems excessive for having received $20k in housing stipend. FYI, my housing cost more than that.
Is the stipend your only income?
Did you pay any foreign tax on the stipend?
Do you file as a nondependent or dependent US Taxpayer?
Hello! To answer your questions:
Is the stipend your only income? Yes
Did you pay any foreign tax on the stipend? Yes
Do you file as a nondependent or dependent US Taxpayer? Nondependent/Independent US Taxpayer.
I earned between $20-$24k. When I type $20k, Turbotax is saying the tax is $497. When I type $24k, it is saying the tax is $1049.
Thank you for your help.
It depends on a couple of things. The Standard Deduction is $14,600 and the tax rate on both the $20K and $24K is 10% after the standard deduction is applied. The difference is within the ballpark with a slight margin for error because there may be other factors involved affecting the calculation.