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Yes, this is reported on W-2, and whether you purchase insurance with the stipend or not, it will be considered taxable income. You won't pay Social Security or Medicare taxes on it. Also, your employer won't withhold taxes from the stipend so you would need to account for that extra tax payment on your return.
Yes, this is reported on W-2, and whether you purchase insurance with the stipend or not, it will be considered taxable income. You won't pay Social Security or Medicare taxes on it. Also, your employer won't withhold taxes from the stipend so you would need to account for that extra tax payment on your return.
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