wiki:Wisdom/Misc/Taxes

Version 1 (modified by lia@…, 14 years ago) ( diff )

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Put general information on taxes here. (Lia)

Turbotax and Taxact are both free tax services that will allow you to pay or receive your refund electronically. You can submit your federal tax return for free, but there is usually a fee if you want to submit your state taxes with these services. You'll have (at least) a W-2 from Columbia University and a 1098-T if you have scholarships or grants.

If you don't have many deductions or outside income to report (e.g. tutoring, interest) you can easily fill out a 1040 or 1040 EZ by hand. These forms are all available for free on www.irs.gov

First and Second year support

First and second year students are paid partially on a stipend, from which taxes are not automatically withdrawn.

Third year and beyond

Outside fellowships and stipends

If you are on an outside grant (e.g. NSF or a NASA grant), you will receive stipend checks from which taxes are NOT automatically withdrawn. Be sure to set aside some taxes for the end of the year.

International Students

Outside Income and Deductions

If you donate to a charity, don't forget to report it for a deduction on your taxes!

Should we report facilities fees as an educational expense? Why or why not?

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