Tax Considerations for Non-UI Summer Program Participants
If you are a non-University of Iowa student who participating in a Summer Research Experience, you need to be aware of a few things regarding your summer stipend.
Taxes after your Summer Experience
If you are a non-University of Iowa student who participating in a Summer Research Experience, you need to be aware of a few things regarding your summer stipend.
Stipend Payments
Most students receive their award/stipend through the UI scholarship portal. You are NOT considered a university employee because the stipends are for your educational experience, not compensation for specific hours worked. These opportunities are intended to help you further your education and develop professional skills.
Taxes and Stipends
After you leave - the documentation for your stipend will be available on a 1098T form that will be generated for you by the University no later than January 30th the following year. You can access the information through the myUI portal @ https://myui.uiowa.edu/. You will need to remember your University of Iowa email that you were issued over the summer, and if you no longer remember the password you may need to have that reset.
Instructions to Access myUI for Students
- Login to myUI with your University of Iowa email
- Select the “Financial Aid” tab
- There will be a menu where you can select “Hope 1098T Tax Information”
- Refer to the IRS Publication 970 for instructions on how to use this information when filing taxes
Filing your Taxes
The question on if the income is taxable will be different for each student and please reference the IRS Publication 970 discussing tax benefits for education. Since your stipend is NOT compensation for hours worked you will NOT receive W2s from the University of Iowa.