is stipend considered as business income?

[SabrinaD2]

A stipend is generally not considered business income. Instead, it is typically classified as either earned or unearned income, depending on the context:

• Earned Income: If the stipend is provided in exchange for services rendered, such as an internship or assistantship, it is considered earned income and is subject to payroll taxes
• Unearned Income: If the stipend is not tied to specific work requirements, it is usually classified as unearned income and is not subject to payroll taxes

For more detailed information, you can refer to Accounting Insights.

Reach back out if you meant something else