Bodiggler Posted November 12, 2015 Share Posted November 12, 2015 Is a Stipend taxable? I keep finding ambiguous information online. Also, if anyone reading this has done an orthopedic residency, please PM me as I have a million questions. Link to comment Share on other sites More sharing options...
cinntsp Posted November 12, 2015 Share Posted November 12, 2015 Yep, you will be treated as an employee and the stipend as income. Link to comment Share on other sites More sharing options...
Moderator EMEDPA Posted November 12, 2015 Moderator Share Posted November 12, 2015 yup, it's income. Link to comment Share on other sites More sharing options...
Bodiggler Posted November 13, 2015 Author Share Posted November 13, 2015 Thanks Fellas! Link to comment Share on other sites More sharing options...
JohnnyM2 Posted November 21, 2015 Share Posted November 21, 2015 Out of curiosity, where are you getting dissenting information? Your residency may be called " a stipend" but it is earned income. It's hard to imagine anyone would suggest it isn't taxable, but I don't know what people might be thinking. Perhaps someone is likening it to a scholarship. But scholarships pay for education expenses, which is why they aren't taxable. Since a residency does have educational value you can think of it this way: You are working for half of what you are worth. The medical organization keeps the other half as payment for your education. So, roughly speaking, you get $100,000 and then pay $50,000 for the residency. You only pay tax on the $50,000. YAY! Sent from my SM-G900V using Tapatalk Link to comment Share on other sites More sharing options...
sotaskimmer Posted November 21, 2015 Share Posted November 21, 2015 Out of curiosity, where are you getting dissenting information? Your residency may be called " a stipend" but it is earned income. It's hard to imagine anyone would suggest it isn't taxable, but I don't know what people might be thinking. Perhaps someone is likening it to a scholarship. But scholarships pay for education expenses, which is why they aren't taxable. Since a residency does have educational value you can think of it this way: You are working for half of what you are worth. The medical organization keeps the other half as payment for your education. So, roughly speaking, you get $100,000 and then pay $50,000 for the residency. You only pay tax on the $50,000. YAY! Sent from my SM-G900V using Tapatalk I like your half-full glass there. Yes, any payment during residency is taxable. Link to comment Share on other sites More sharing options...
knionir Posted December 3, 2015 Share Posted December 3, 2015 Guys, Residency is a stage of graduate medicine training. When a resident student receive stipend then we regarded it as Residency stipend. About it 'JohnnyM2' express his views. I think he is right but I wanted to include that it may for a single semester or for total semester. It also may half free or full free. It's totally depends on the communication between institution and students and results of the students. Link to comment Share on other sites More sharing options...
sotaskimmer Posted December 9, 2015 Share Posted December 9, 2015 Guys, Residency is a stage of graduate medicine training. When a resident student receive stipend then we regarded it as Residency stipend. About it 'JohnnyM2' express his views. I think he is right but I wanted to include that it may for a single semester or for total semester. It also may half free or full free. It's totally depends on the communication between institution and students and results of the students. The medical residents I work with pay taxes. I paid taxes on a stipend when i was in a doctorate program. I pay taxes now that I'm in a PA residency program. My point is, you'll pay taxes. "Stipend" may sound like "non-taxable payment for living expenses while you learn" but it really means "cheap salary." Not complaining, I love my position as a resident, just letting ya know because I had that same idea about stipends years ago. Link to comment Share on other sites More sharing options...
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