>
Date: Fri, 13 Apr 2001 18:01:04 -0400
X-Mailer: Microsoft Outlook CWS, Build 9.0.2416 (9.0.2911.0)
Here is a quote from the tax reform act of 1986 the most current statue. I
am a student with resident status and although my scholarship is from an US
College the regulations should be the same:
"Scholarships amounts granted ... for expenses incurred ... are taxable
income, if the aggregate scholarship ... amounts ... exceed tuition and fees
(not including room and board), books, supplies and equipment required for
courses of instruction at (an eligible) institution."
This means that if your scholarship exceeds the cost of tuition, fees and
books (note: expense necessary for class that means any material or device
you can prove you needed for classes. Think computer programs etc.) the
excess amount is taxable.
I hope this helps, if not I would try to contact somebody in the financial
aid office of a University or College. They are dealing with these issues
all the time (international students etc.) and might be able to give you
more detailed info.
Take care,
Michael
Michael Fellner '03E
AC# 896
Keefe Campus Center
Amherst College
P.O. Box 5000
Amherst, MA 01002
Phone: (413) 542-2905
Mobile: (413) 364-8454
ICQ: 12978065
AIM: mfellner03
-----Original Message-----
From: Balthasar Bickel [mailto:bickel_at_socrates.berkeley.edu]
Sent: Friday, April 13, 2001 3:43 PM
To: swiss-list_at_swiss-list.com
Subject: swiss-list: urgent question on tax exemption regulations
Hi there,
This issue must have come up earlier on this list, but I'd still be very
grateful for any advice or pointer to a place where I could get advice
(before the 4/16 filing deadline):
I am here on a J-1 but count as an alien resident for tax purposes
(because I've used up the two-year period that exempts you from resident
status). Under this circumstance, is my scholarship from the Swiss
National Foundation taxable in the US?
I looked at the booklet on Tax Treaties issued by the IRS but I wasn't
sure whether I fall into the category of (i) Professors, Teachers and
Researchers or (ii) Wages and Pensions paid by a Foreign Government.
Thanks!
- Balthasar.
=================================================================
To unsubscribe from the swiss-list mailing list send the
message body of "unsubscribe swiss-list" to majordomo_at_swiss-list.com
or visit http://www.swiss-list.com
=================================================================
To unsubscribe from the swiss-list mailing list send the
message body of "unsubscribe swiss-list" to majordomo_at_swiss-list.com
or visit http://www.swiss-list.com
Received on Fri Apr 13 2001 - 14:50:39 PDT
