Submitted By: John
Answered: December 30, 2016 2:09 pm

My son received a fellowship that includes a stipend. Is the stipend taxable?

Fellowship payments used for incidental expenses, including room and board, travel, and optional equipment are taxable. So too are amounts received for teaching, research, and other services required as a condition for receiving the fellowship. The only exception: amounts received for services required by the National Health Service Corps Scholarship Program or the Armed Services Professional Scholarship and Financial Assistance Program.

advertisement
Tax Glossary

Revocable trust

A trust that may be changed or terminated by its creator or another person. Such trusts do not provide an income tax savings to the creator.

More terms