Tis the season. Tax season.

Discussion in 'Air Force Academy - USAFA' started by jwalsh1, Apr 14, 2011.

  1. jwalsh1

    jwalsh1 Member

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    Hello all!

    I hope you all have done your taxes already! Just because it is the season, some questions came up in my mind. Is the cadet stipend taxable income? If so, do they withhold taxes for you? One other question that may not be as easy to answer, can I continue to put 10% of the income into TSP while I am a cadet drawing the stipend?

    Many Thanks,
    Jim
     
  2. HNeedle

    HNeedle Member

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    Well, it isn't really a stipend, it's active duty military pay (like 1/3 of a 2nd Lt's pay), since we're "active duty." Yes, they withhold taxes for you, and most people end up gettin a decent $300 return or near that. I'm pretty positive that cadets arent eligible for TSP, but we are once we're commissioned after graduation.
     
  3. jwalsh1

    jwalsh1 Member

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    Thanks for the reply. I just assumed it was a stipend like ROTC pay. Anyway, it kind of sucks that I'll have to stop contributing to TSP, but whatever, I'll pick it back up upon graduation. =D Thanks again!
     

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