How does the academic year affect reporting of fellowship stipends at Northwestern University?
A. Since the academic year crosses different calendar years, the W2 will reflect earnings on a calendar-year basis. For instance, you may receive a University fellowship from September to May in your first academic year. For the first calendar year (ending that December), you would not receive a W2 showing fellowship earnings, but the stipend you received from September to December is taxable income for that year. You then may be paid as a teaching assistant or research assistant from September to December of your second academic year. For the second calendar year, Northwestern would issue you a W2 reflecting only your assistantship earnings from September to December. Your fellowship stipend from the previous January through May would not be reported on your W2, but you will need to include it, along with your assistantship earnings, in the taxable income you report to the IRS and the state of Illinois.
Related Questions
- A student will be undertaking a sandwich course, and will therefore be on a placement for 1 academic year. How does this affect receipt of payments of the scholarship?
- How does the academic year affect reporting of fellowship stipends at Northwestern University?
- As an incoming student, can I apply for the academic year FLAS Fellowship?
