2014 Individual Income Tax Returns: Example A

Completed Examples: U.S. graduate student with tuition fellowship & stipend
2015 Federal Estimated Tax Calculation

Completed Example | Form Instructions
2015 CT Estimated Tax Calculation

Completed Example | Form Instructions
2014 Federal Individual Income Tax Return

Completed Example | Form Instructions
2014 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & ExpenseAmountTax Return Comments
Fellowship applied directly to tuition$37,600Nontaxable and nonreportable
Stipend used for other than tuition (e.g., room, board, books, travel, etc.)$28,400Amount stated on final paystub for the year
Stipend: $28,400

Less: Amounts used for required books, etc.: <2,000>

Taxable Stipend: $26,400
$26,400 Report the taxable stipend on line 7 of the Form 1040 or Form 1040A.  Identify the amount as a fellowship payment by writing "SCH" to the left of the entry and the amount  on the dotted line.
Taxable Interest Income$350Report the amount on line 8a of Form 1040 or Form 1040A.
Federal income tax withholdingNone Amount reported in box 2 of Form W-2
Federal estimated tax payments$1,778Estimated federal income tax payments made for calendar year 2014. In addition, this amount includes any overpayment from 2013 that was applied to 2014 estimated tax.
CT income tax withholdingNone State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments NoneEstimated State of CT income tax payments made for calendar year 2014. In addition, this amount includes any overpayment from 2013 that was applied to 2014 estimated tax.