Got a fellowship? Here's how you can already start preparing for tax time

By Noreen Balos, Funding Peer
Friday, September 29, 2017 11:01 AM

At the start of the school year, taxes may not be on your minds just yet. But if you have received a fellowship and are wondering if it is taxed and/or how much taxes to pay next year, consider the following resource to help determine what applies to you.

Emily Roberts explains some key information about taxes in ​this article ​about what graduate students should know if they have received fellowships or other funding from the university.

Some questions she answers are:

  • What is compensatory and non-compensatory pay? 
  • Are taxes withheld from my fellowship by the university?
  • Do I have to pay the taxes myself from that fellowship?
  • How do I set-up a payment for taxes on that fellowship?
  • What is a W-2, W-4, and a 1098-T form?

Read the full article to find about more about what steps to take now so you are prepared for next year's tax season.

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