University student living stipends

May 25, 2021

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Q. I would like to know how to treat the payment to students who receive stipends to participate in a program. They are not working and the payments are not for qualified expenses. They are for living expenses such as rent, electric bills, etc. 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.) If these are students enrolled in a…

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