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View Full Version : Intership income is taxable or not


trinhcao
Oct 29, 2008, 03:55 PM
Recently graduated from medical school and has begun the intership( this is required of training) and received $1200/month. This stipend is a nontaxable grant or not?

MukatA
Oct 30, 2008, 01:43 AM
It is income for your personal work. It is not scholarship or grant. It is taxable income.

AtlantaTaxExpert
Oct 30, 2008, 10:25 AM
Agreed! The IRS would consider this to be taxable compensation for work performed.