Taxes! Again

cajuncarrier

cajuncarrier

5-Year Member
Joined
Mar 3, 2013
Messages
387
I know every year this subject comes up. But this year I only have one question that I don't remember the answer to. I've checked old threads but didn't see it. So please forgive me if this is repeated.

Will ROTC send a W2 or any other form that states the amount received for the scholarship, book money and monthly stipend? and also CULP?

DS was a MSI last year and didn't receive any form for tax purposes. He uses the scholarship for room and board which goes directly to him. No money is paid to the university. So that isn't included with the 1098T from the university.

thanks
 
Scholarship and book money are not taxable as long as it is used for its intended purpose. If you used financial aid, other scholarships and have money left over after paying tuition you will include the difference to your income. Stipend is exempted from taxes.
 
cajuncarrier said:
I know every year this subject comes up. But this year I only have one question that I don't remember the answer to. I've checked old threads but didn't see it. So please forgive me if this is repeated.

Will ROTC send a W2 or any other form that states the amount received for the scholarship, book money and monthly stipend? and also CULP?

DS was a MSI last year and didn't receive any form for tax purposes. He uses the scholarship for room and board which goes directly to him. No money is paid to the university. So that isn't included with the 1098T from the university.

thanks
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Cajun, sending you a PM.
 
cajuncarrier: I am no tax attorney, but I did sleep at a Holiday Inn Express last night! ;)

My DS (NROTC MO) gets a W2 covering his summer training when he is considered on active duty and paid. It is sent to his ROTC unit and distributed from there.

He also gets the 1098-T from the University showing his scholarship. They don't mail it out - we have to go online and print it. Of my four children, this is the only university that we have seen that doesn't mail them out.
 
USMCGrunt said:
cajuncarrier: I am no tax attorney, but I did sleep at a Holiday Inn Express last night! ;)

My DS (NROTC MO) gets a W2 covering his summer training when he is considered on active duty and paid. It is sent to his ROTC unit and distributed from there.

He also gets the 1098-T from the University showing his scholarship. They don't mail it out - we have to go online and print it. Of my four children, this is the only university that we have seen that doesn't mail them out.
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I wonder if someone inadvertently opted out of a mailed copy? If I were a guessing man, I would have thought, by law, they would be required to provide a paper copy unless you opted out. But then we both know that I don't k now much! :D
 
kinnem said:
I wonder if someone inadvertently opted out of a mailed copy? If I were a guessing man, I would have thought, by law, they would be required to provide a paper copy unless you opted out. But then we both know that I don't k now much! :D
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Neither of the schools that my younger kids go to send out 1099-T forms. We have to go online to a portal and print them.

Stealth_81


Sent using the Service Academy Forums® mobile app
 
Wow! Well, I learn something new every day!
 
cajuncarrier said:
I know every year this subject comes up. But this year I only have one question that I don't remember the answer to. I've checked old threads but didn't see it. So please forgive me if this is repeated.

Will ROTC send a W2 or any other form that states the amount received for the scholarship, book money and monthly stipend? and also CULP?

DS was a MSI last year and didn't receive any form for tax purposes. He uses the scholarship for room and board which goes directly to him. No money is paid to the university. So that isn't included with the 1098T from the university.

thanks
Click to expand...
DS did not receive W2 last year, but did this year- it was mailed. DSs unit has a very efficient work staff. We are also working through this. He is a MSII this year, so we may have some similarities and you can PM if you like.
 
Johndeere, is your son using his scholarship for room & board? If so, I'm wondering if he didn't receive one for his first year since they aren't required to pay it back if they decide to not continue with the program at anytime during their first year? I guess that would kinda make sense.
 
cajuncarrier said:
I know every year this subject comes up. But this year I only have one question that I don't remember the answer to. I've checked old threads but didn't see it. So please forgive me if this is repeated.

Will ROTC send a W2 or any other form that states the amount received for the scholarship, book money and monthly stipend? and also CULP?

DS was a MSI last year and didn't receive any form for tax purposes. He uses the scholarship for room and board which goes directly to him. No money is paid to the university. So that isn't included with the 1098T from the university.

thanks
Click to expand...

His W2 will be on https://mypay.dfas.mil/mypay.aspx for the CULP.
 
Thanks all for the wonderful information. I'll have DS check all accounts to see if there is anything for taxes. Have a great day..
 
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