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Stipends

December 14, 2021
December 14, 2021

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Q. What is your advice on the 1099 treatment of stipends? A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) "Stipend" is not a term used in the federal tax regulations for specifying the tax treatment of a payment, so the payer must identify what the payment actually is.  For example, is it a "nonqualified" scholarship or…

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