2016 Individual Income Tax Returns Examples

Important to Note:

The following examples of completed federal and state income tax returns and estimated tax calculations are provided for your general information and are presented for illustrative purposes only. The returns and estimated tax calculations are based on typical payments received by graduate and professional school students and postdoctoral fellows at Yale University and do not address other items of income, deductions, credits, etc. that may apply to your specific tax situation. Further, the examples assume that the tax filer is a Connecticut resident with a tax filing status of “single”.

Type of Payment(s)

Examples of Completed Tax Forms & Estimated Tax Calculations

2016 Individual Income Tax Returns: Example A

 
Completed Examples: U.S. graduate student with tuition fellowship & stipend
2017 Federal Estimated Tax Calculation

Completed Example | Form Instructions

2017 CT Estimated Tax Calculation

Completed Example | Form Instructions

2016 Federal Individual Income Tax Return

Completed Example | Form Instructions

2016 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & Expense Amount Tax Return Comments
Fellowship applied directly to tuition $39,800 Nontaxable and nonreportable
Stipend used for other than tuition (e.g., room, board, books, travel, etc.) $29,650 Amount stated on final paystub for the year
Stipend: $29,650
Less: Amounts used for required books, etc.: <2,000>
Taxable Stipend: $27,650

$27,650

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 $350 Report the amount on line 8a of Form 1040 or Form 1040A.
Federal income tax withholding None Amount reported in box 2 of Form W-2
Federal estimated tax payments $1,876 Estimated federal income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.
CT income tax withholding None State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments None Estimated State of CT income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.

2016 Individual Income Tax Returns: Example B

Completed Examples: U.S. graduate student with tuition fellowship, stipend & other wages
2017 Federal Estimated Tax Calculation

Completed Example | Form Instructions

2017 CT Estimated Tax Calculation

Completed Example | Form Instructions

2016 Federal Individual Income Tax Return

Completed Example | Form Instructions

2016 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & Expense Amount Tax Return Comments
Fellowship applied directly to tuition $39,800 Nontaxable and nonreportable
Stipend used for other than tuition (e.g., room, board, books, travel, etc.) $29,650 Amount stated on final paystub for the year
Stipend: $29,650
Less: Amounts used for required books, etc.: <2,000>
Taxable Stipend: $27,650

$27,650

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.
Other wages $5,000 Amount reported on Form W-2, box 1. Report this amount on line 7 of the Form 1040 or Form 1040A.
Taxable Interest Income $350 Report the amount on line 8a of Form 1040 or Form 1040A.
Federal estimated tax withholding $200 Amount reported in box 2 of Form W-2.
Federal estimated payments $2,352 Estimated federal income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.
CT income tax withholding $100 State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments None Estimated State of CT income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.

2016 Individual Income Tax Returns: Example C

Completed Examples: U.S. graduate student with tuition fellowship, teaching fellowship and additional stipend
2017 Federal Estimated Tax Calculation

Completed Example | Form Instructions

2017 CT Estimated Tax Calculation

Completed Example | Form Instructions

2016 Federal Individual Income Tax Return

Completed Example | Form Instructions

2016 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & Expense Amount Tax Return Comments
Fellowship applied directly to tuition $39,800 Nontaxable and nonreportable
Stipend used for other than tuition (e.g., room, board, books, travel, etc.) $13,650 Amount stated on final paystub for the year
Stipend: $13,650
Less: Amounts used for required books, etc.: <2,000>
Taxable Stipend: $11,650

$11,650

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.
Graduate teaching fellowship $16,000 Amount reported on Form W-2, box 1. Report this amount on line 7 of the Form 1040 or Form 1040A.
Taxable Interest Income $350 Report the amount on line 8a of Form 1040 or Form 1040A.
Federal estimated tax withholding $1,800 Amount reported in box 2 of Form W-2.
Federal estimated payments None Estimated federal income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.
CT income tax withholding $100 State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments None Estimated State of CT income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.

2016 Individual Income Tax Returns: Example D

Completed Examples:  U.S. graduate student with tuition fellowship and assistantship in research
2017 Federal Estimated Tax Calculation

Completed Example | Form Instructions

2017 CT Estimated Tax Calculation

Completed Example | Form Instructions

2016 Federal Individual Income Tax Return

Completed Example | Form Instructions

2016 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & Expense Amount Tax Return Comments
Fellowship applied directly to tuition $39,800 Nontaxable and nonreportable
Assistantship in Research $34,450 Amount reported on Form W-2, box 1. Report this amount on line 7 of the Form 1040 or Form 1040A.
Taxable Interest Income $350 Report the amount on line 8a of Form 1040 or Form 1040A.
Federal estimated tax withholding $4,100 Amount reported in box 2 of Form W-2.
Federal estimated tax payments None Estimated federal income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.
CT income tax withholding $1,100 State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments None Estimated State of CT income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.

2016 Individual Income Tax Returns: Example E

Completed Examples: U.S. postgraduate with postdoctoral fellowship
2017 Federal Estimated Tax Calculation

Completed Example | Form Instructions

2017 CT Estimated Tax Calculation

Completed Example | Form Instructions

2016 Federal Individual Income Tax Return

Completed Example | Form Instructions

2016 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & Expense Amount Tax Return Comments
Postdoctoral Fellowship $42,840 Amount reported in box 3 of Form 1099-MISC
Taxable Interest Income $350 Report the amount on line 8a of Form 1040 or Form 1040A.
Student loan interest deduction $500 Interest paid on a qualified student loan in 2016.
Federal estimated tax withholding None Amount reported in box 2 of Form W-2.
Federal estimated tax payments $3,836 Estimated federal income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.
CT income tax withholding None State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments $1,412 Estimated State of CT income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.

2016 Individual Income Tax Returns: Example F

Completed Examples: U.S. postgraduate with postdoctoral fellowship and PDF funded healthcare
2017 Federal Estimated Tax Calculation

Completed Example | Form Instructions

2017 CT Estimated Tax Calculation

Completed Example | Form Instructions

2016 Federal Individual Income Tax Return

Completed Example | Form Instructions

2016 CT Individual Income Tax Return

Completed Example | Form Instructions

Additional Information

Type of Income & Expense Amount Tax Return Comments
Postdoctoral Fellowship $42,840 Included in amount reported in box 3 of Form 1099-MISC
 
Postdoctoral fellow funded health insurance $6,624 Included in amount reported in box 3 of Form 1099-MISC
Taxable Interest Income $350 Report the amount on line 8a of Form 1040 or Form 1040A.
Student loan interest deduction $500 Interest paid on a qualified student loan in 2016.
Federal estimated tax withholding None Amount reported in box 2 of Form W-2.
Federal estimated tax payments $4,748 Estimated federal income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.
CT income tax withholding None State of CT tax reported in box 17 of Form W-2
State of CT estimated tax payments $1,796 Estimated State of CT income tax payments made for calendar year 2016. In addition, this amount includes any overpayment from 2015 that was applied to 2016 estimated tax.