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Residency Stipend


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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!

 

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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!

 

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I like your half-full glass there.

 

Yes, any payment during residency is taxable.

 

 

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  • 2 weeks later...

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.

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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.

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