General Question

ajl's avatar

Do americorps vista living allowances get taxed?

Asked by ajl (27points) April 27th, 2008

i’m considering starting a vista position in the fall. i know the education award afterwards gets taxed, but i’m wondering about the living allowance for during the term of service. anyone?

Observing members: 0 Composing members: 0

3 Answers

ironhiway's avatar

yes

The Segal AmeriCorps Education Award, unlike most other forms of scholarships and fellowships, is subject to federal tax in the year the Trust pays the voucher. Living allowances you received during your term of service and any interest the Trust paid on qualified student loans are also subject to income taxes in the years they were paid. When and how much of the education award you redeem may have an impact on your overall income tax responsibility.

VIP's avatar

Can you share some details on your americorps position? I’m thiking about applying for Americorps as well. The only thing holding me back is being able to afford living in San Francisco.
From what i understand the payment for Americorps comes out to be about $800/month after taxes.

zaid's avatar

Most, def. I did City Year Boston during AmeriCorps first year. We made $125/wk. $106.40 after taxes. I had to live on that.

Answer this question

Login

or

Join

to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther