2007-06-13 05:44:02 · 5 answers · asked by dgizrobin 2 in Business & Finance ➔ Taxes ➔ United States
If you are employed to do research for your college, the payments that you are given for your research are taxable income to you.
Whether you or your college labels a payment as a "food stipend" doesn't matter.
2007-06-13 05:57:03 · answer #1 · answered by ninasgramma 7 · 1⤊ 0⤋
Yes, it is correct that it be taxed. Think of it this way. If they paid you a larger fee for doing the research and you had to buy your own food, would you expect that you could deduct the cost of the food from your income tax ?
2007-06-13 13:03:36 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
Yes it is income. Why should you not be taxed on this and other people have to pay taxes on the money they have to use to pay for food.
2007-06-14 22:31:13 · answer #3 · answered by K M 4 · 0⤊ 0⤋
Why not? The money people earn from any other job that pays for their food is taxed when they receive their paychecks.
2007-06-13 17:10:47 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
no taxes are never right PERIOD
2007-06-13 12:51:34 · answer #5 · answered by phillyb007 2 · 0⤊ 1⤋