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12 results for "1042-S"

12 results for "1042-S"

What is a Form 1042-S?

FAQ

Form 1042-S is issued to nonresident aliens (for tax purposes) who have received scholarships that exceed tuition and mandatory fees. Form 1042-S is a report of tax withheld and is mailed in mid-March.

Graduate students who have questions about the...

Tax Filing Resources

Page
Internal Revenue Service (IRS) https://www.irs.gov Tax Information for Students Tax Information for Foreign Students and Scholars Publication 17: Your Federal Income Tax-For Individuals Publication 8863: Education Credits Publication 970: Tax Benefits for...

Will My Scholarship be Taxed?

FAQ

If you are a U.S. citizen or a resident alien, Harvard will not withhold taxes on your scholarship or monthly graduate stipend. Part of your scholarship may be considered taxable income, however (please see below). Permanent residents are treated like U...

What portion of my scholarship award may be considered taxable?

FAQ

A scholarship or fellowship grant is tax free (excludable from gross income) only if you are a candidate for a degree at an eligible educational institution. U.S. tax law divides scholarships received into two parts. Scholarship that is used for tuition...

How much tax will I be charged?

FAQ

 

If you are a U.S. citizen or resident for tax purposes, Harvard will not withhold taxes from your taxable scholarship or stipend. If you are a nonresident alien for tax purposes, the taxable portion of your award will be taxed at a rate of 14%.

Some...