Tax Essentials & Resources

Taxes are typically due on April 15 for income earned in the previous calendar year. State filing and payment deadlines vary and are not always the same as the federal filing deadline. Check with your state tax agencies for those details.

For tax purposes, “income” includes any money you receive through paychecks, stipends, and assistantships, and may also include some funds from scholarships or fellowships.

Keep your W2 and/or 1099 from your employer.

Many students will receive refunds from taxes that have been withheld throughout the year.

You do not have to pay taxes on funds from your scholarship, fellowship, or other grant that are used to pay for tuition and any fees, books, supplies, and equipment required for your courses. These are referred to as qualified educational expenses

You do have to pay taxes on amounts disbursed or paid to you for stipends and assistantships. You also have to pay taxes on funds used for incidental expenses, such as room and board, travel, and non-required equipment. These are referred to as non-qualified expenses.

Stanford does not withhold state taxes on your behalf. You may be expected to file a California state tax return.

Consult your 1098T form from Stanford if you (or your parents) are applying for the American Opportunity Credit or Lifetime Learning Credit.

Use your Account Activity data in Axess to determine your aid income and qualified expenses for each tax year (not the 1098T).

Look into the American Opportunity Credit, Lifetime Learning Credit, and Student Loan Interest Deductions.