Ask a Dean Category: Tax
How do I rectify an overpayment on my taxes as a result of an overpayment from Cornell?
Category: Fellowships and Funding, Tax Date: June 2021
Hi Deans, I was contacted last fall by my department to say that that one of my paychecks had been an overpayment. I was given no information about the paycheck they were specifically referring to but was told someone from payroll would contact me to discuss how I was to repay the overpaid amount. I…
Will I still qualify for the stimulus payment if I did not file a tax return last year?
Category: Tax Date: April 2020
Dear Deans, I am a graduate student who did not file a tax return last year, will I still qualify for the stimulus payment? -Interested in Economic Impact Response Dear Interested in Economic Impact, The recently passed law provides economic impact payments up to $1,200 for single adults and $500 for children under 17. Payments…
Are we taxed on our health insurance?
Category: Tax Date: February 2019
Hello Deans, I am preparing my 2018 taxes received my 1098-T. It appears I owe taxes on the money Cornell pays for my health insurance. The amount recorded as “qualified tuition and related expenses” is $29,584.00, the sum of my Spring and Fall tuition and student activity fee payments. The amount recorded as “scholarships or…
Which taxes do not have to be paid by graduate students?
Category: Tax Date: December 2018
Hi Deans, I was reading the Cornell Daily Sun and saw an article about Associate Dean Kahabka’s recent chat at the GPSA meeting. He was quoted as saying, “What [the living wage] doesn’t take into account is that students also have health insurance covered and don’t have to pay certain taxes,” Kahabka said. “In general the…
Which tax year is used for spring stipends?
Category: Fellowships and Funding, Tax Date: March 2018
Hello, I receive a graduate fellowship and due to the way Cornell prepares the 1098-T form, I am unsure how to report it. On the 1098-T, both the Fall 2017 and Spring 2018 stipend payments are added to the 2017 year. The Spring stipend payment was noted on my bursar on 12/15 (when tuition was…
Can you tell me how Cornell follows 117 a-c while so many other institutions obviously follow 117d?
Category: Fellowships and Funding, Tax Date: December 2017
Dear Ask a Dean, According to the Cornell Daily Sun’s coverage of last Monday’s GPSA meeting, Cornell graduate students would not be impacted by changes in the tax plan in the event it passes the senate because Cornell follows sections 117 a-c while the proposed tax plan would repeal 117d. This is certainly a relief…
Are all funded graduate students functioning under 117(a-c) of the current tax code?
Category: Fellowships and Funding, Tax Date: November 2017
Hello Deans, I appreciate the information that the Graduate School News has provided regarding effects of proposed Tax Plan Reforms. I wanted to clarify, just to be certain: Are all graduate students functioning under 117(a-c) of the current tax code? Are there any exceptions to this here at Cornell? For example, are graduate students receiving…
How will the proposed changes affect my taxable income, particularly in regards to the tuition that the NSF pays to Cornell?
Category: Fellowships and Funding, Tax Date: November 2017
Hi, Deans, Thank you very much for all of the clarifications about the proposed changes to the tax code and how Cornell graduate students would be affected by it. I understand that the proposed tax plan includes provisions which aim to repeal the tax deduction for tuition related expenses. This year, my funding and part…
Three questions about Cornell’s response if the proposed tax legislation is passed
Category: Fellowships and Funding, Tax Date: November 2017
Question 1: Dear Sir/Madam, I recently heard that the new republican tax plan involves taxing graduate students on their stipend PLUS their tuition. This would increase our taxes by ~ $6K, a significant amount. What is Cornell’s plan regarding this development? What will this mean for graduate students moving forward? Thanks, Tax-conscious Graduate Student Question…
Will the Graduate School commit to increasing wages or decreasing tuition for graduate students if the proposed changes to the tax code pass?
Category: Fellowships and Funding, Tax Date: November 2017
Hello deans, Recently news has circulated that a draft tax code could, if implemented, remove the tuition waiver for grads, double our taxable income, and thereby increase our federal taxes two- to threefold. The November 6, 2017 Graduate School newsletter had one explanation for why this wouldn’t technically affect Cornell grads, but nonetheless I and…