Q:

Are stipends taxable?

A:

Quick Answer

Stipends used for educational study or research while pursuing a degree aren't taxable income, according to H&R Block. However, stipends used for living expenses by a nondegree student or received in exchange for delivery of services are typically taxable income.

Continue Reading

Full Answer

Qualified purchases with nontaxable stipends include tuition, books, equipment and supplies, according to Washington University in Saint Louis. Stipend money used for educational pursuits that benefit the grantor are taxable, reports H&R Block, as is money received for performance of current or future services. When the stipend is a payment for services, the person making payment should provide the recipient with a Form W-2 by Jan. 31.

Learn more about Taxes

Related Questions

  • Q:

    Where can you get answers to H&R Block tax questions?

    A:

    H&R Block offers answers to many common tax questions using a database on its website. If a question cannot be found by searching the database, the advice is to contact a tax specialist at one of its local offices, explains H&R Block.

    Full Answer >
    Filed Under:
  • Q:

    Where can you estimate a refund on a tax return?

    A:

    Taxpayers can estimate federal tax refunds by using a free online tax refund calculator, such as TurboTax's TaxCaster or H&R Block's Tax Estimator. To calculate an accurate estimate, tax calculators require the taxpayer's income, expenses, filing status, age and number of dependents.

    Full Answer >
    Filed Under:
  • Q:

    What are the top tax software programs?

    A:

    The top tax software programs, as of 2015, are TurboTax, TaxACT and H&R Block, according to Top Ten Reviews. It recommends TurboTax as the simplest to use, TaxACT as the most affordable program that still covers most tax situations and H&R Block for users who need additional tax filing support.

    Full Answer >
    Filed Under:
  • Q:

    Can the H&R Block website help you check your tax refund status?

    A:

    As of 2015, H&R Block's website does not help clients check their tax refund status. Clients can only check on their e-file status with the company, notes H&R Block. A consumer who wants to check on his refund status must go to the IRS website to do so.

    Full Answer >
    Filed Under:

Explore