Entering your W-2 stipend information into TurboTax is very straightforward. The software will naturally prompt you to enter the information if you tell it you received a W-2, so you can follow its lead in this case.
Alternatively, follow the steps below:
1. Under the ‘Federal Taxes’ and ‘Wages & Income” tabs, click ‘Continue.’
2. Under ‘Wages and Salaries,’ click ‘Show More’ and ‘Start.’
3. Select ‘Work on my W-2 now’ and ‘Continue.’
4. In the next several screens, you will replicate the information printed on your W-2 in TurboTax. I have entered our hypothetical grad student’s income into the correct boxes.
Check: Under tabs ‘My Account’ and ‘Tools,’ click ‘View Tax Summary’ and then ‘Preview My 1040’ to verify that the income you entered was added to the correct line on your tax return.
Parent post: Grad Student TurboTax Guide: 2015 Edition
We at Grad Student Finances are not tax professionals, and none of the content in this section should be taken as advice for tax purposes.
Join Our Phinancially Distinct Community
Receive 1-2 emails per week to help you take the next step with your finances.