Help: Tax question

I have a tax-related question for anyone who might know. I did an SRC internship last summer for which I received a stipend. However, I didn’t get a W-2 for that money, and I don’t know how research stipend type money is treated tax wise. It seems pretty likely to me that I should pay taxes on the money, but does anyone know more about how that works?

Thank you!

Comments 2

  1. pandoradeloeste wrote:

    If you never received a W2 for it, chances are that as far as the IRS knows, that job never existed and you don’t have to pay taxes on it. If you feel like playing it safe, though, call up the IRS (1-800-829-1040) on Monday and ask them what to do about it. If anything, they might make you fill out a separate form (4852?) and attach that as a W2.

    Posted 09 Apr 2006 at 05:31
  2. zaldreon wrote:

    When I received a research stipend for work done during the summer in high school, I did not get a W-2. I did some research into this matter at that time. It was not clear to me whether a non-profit educational organization is obligated to give you a W-2 form, though most employers are required.

    Ultimately, I simply declared the research income as “earned income” added to my total income, but did not attach a W-2. This is what is done by (honest) service personnel to declare the money the receive in the form of tips (which is not represented on the W-2 they receive from their employer).

    Reporting the income did not change the amount of tax I had to pay, because the standard deduction for earned income is quite high. Unless you earned a lot of money last year, declaring the income won’t end up costing you anything, at least on the federal level.

    Posted 09 Apr 2006 at 10:38

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