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    trinhcao's Avatar
    trinhcao Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 29, 2008, 03:55 PM
    Intership income is taxable or not
    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's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Oct 30, 2008, 01:43 AM

    It is income for your personal work. It is not scholarship or grant. It is taxable income.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

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