Taxes for 2016

General Discussion for SMART Scholarship Recipients

Re: Taxes for 2016

Postby hello » Fri Aug 11, 2017 9:44 pm

Will new scholars receive a 1099 for this year's tax payments soon? Or does it somehow get factored into the one we receive in January?
hello
 

Re: Taxes for 2016

Postby Guest » Fri Aug 11, 2017 11:05 pm

hello wrote:Will new scholars receive a 1099 for this year's tax payments soon? Or does it somehow get factored into the one we receive in January?

You only get one 1099 per company/gambling/etc.
Guest
 

Re: Taxes for 2016

Postby kbl2017 » Sat Aug 12, 2017 7:41 pm

hello wrote:Will new scholars receive a 1099 for this year's tax payments soon? Or does it somehow get factored into the one we receive in January?


You'll get it in January, for all the stipends for August-december. Just like you would for any other stipend based job.
kbl2017
 
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Re: Taxes for 2016

Postby Guest12345 » Fri Aug 18, 2017 4:03 pm

I haven't seen this discussed or addressed but are we only getting taxed on the main stipend or are we also getting taxed on everything (misc stipend payments, internship support payments, etc....). I ask because Im having a accountant prepare my taxes for me and they weren't sure as to how the support payments will be treated.
Guest12345
 

Re: Taxes for 2016

Postby CSMajor » Fri Aug 18, 2017 4:42 pm

Guest12345 wrote:I haven't seen this discussed or addressed but are we only getting taxed on the main stipend or are we also getting taxed on everything (misc stipend payments, internship support payments, etc....). I ask because Im having a accountant prepare my taxes for me and they weren't sure as to how the support payments will be treated.


I think its pretty important to note that in the tax memo from SMART they specifically said that we are ***NOT*** Self-Employed.
CSMajor
 

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