Taxes for 2016

General Discussion for SMART Scholarship Recipients
hello

Re: Taxes for 2016

Post by hello »

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?

Guest

Re: Taxes for 2016

Post by Guest »

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.

kbl2017
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Re: Taxes for 2016

Post by kbl2017 »

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.

Guest12345

Re: Taxes for 2016

Post by Guest12345 »

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.

CSMajor

Re: Taxes for 2016

Post by CSMajor »

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.

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