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Yes, stipend income is generally taxable, even if you didn't receive a tax form for it. To report this income:
This will report your fellowship on line 7 (wages) of your Form 1040. You will not pay Self Employment tax on this stipend.
Yes, stipend income is generally taxable, even if you didn't receive a tax form for it. To report this income:
This will report your fellowship on line 7 (wages) of your Form 1040. You will not pay Self Employment tax on this stipend.
I followed the instruction above, but when I did this, it doubled the amount that I had entered in the box. Why is this and how can I fix it?
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