taxes, W-2?

[DSL1990]

am i supposed to get a w-2 form from the navy for the money I get in nrotc? for example, my allowance, the money for books and uniforms, etc? what about the nrotc scholarship money? or other scholarship money or loans from the school? does any of that need to be reported to the irs?

how would a nrotc midn do their taxes? does any of this stuff count as income?

i have no idea where to start.

 

[MIDNJAC]

Yes they will (should have) provide you with a W-2 if you are on scholarship. I honestly don't recall what portion is taxable so maybe someone more recent can comment.

 

[Checkert]

I only remember getting W-2's for the money we got for going on summer cruise

 

[MIDNJAC]

I only remember getting W-2's for the money we got for going on summer cruise

Yeah that's right

 

[Phantom Hawk]

Yea, only money you recieve from summer cruise is taxable. You will be given a W-2 from your unit once that applies.

 

[FormerRecruitingGuru]

$77 baby! That's enough for 7 cases of Keystone or Natty Lite!

 

[nzachman]

A dirty thirty of stones for $11?????

Yeah right.

 

[FormerRecruitingGuru]

A dirty thirty of stones for $11?????

Yeah right.

If you know the right places you can get a 24 pack of Key/Natty for 10-11 bucks.

Also to add on, whenever I'm feeling Texan you can get about 5-6 cases of Lone Star to complement your night.

 

[scoolbubba]

keystone is just old coors light in a dented silver bullet can.


i'm only half kidding. look at every keystone can and it will be dented, and if it's cold you can't tell the difference between the two.

 

[DSL1990]

Yea, only money you recieve from summer cruise is taxable. You will be given a W-2 from your unit once that applies.

cool! then taxes should be easy for 2008 since i haven't gone on cruise yet!

so you don't need to report the scholarship money or loans on the tax form?

 

[nittany03]

Kids these days. I'd rather get the silver bullet than drink the Silver Bullet . . .

Know how light beer is like having sex in a canoe?

 

[nzachman]

Kids these days. I'd rather get the silver bullet than drink the Silver Bullet . . .

Know how light beer is like having sex in a canoe?

It's fucking near water?????

 

[cclement]

cool! then taxes should be easy for 2008 since i haven't gone on cruise yet!

so you don't need to report the scholarship money or loans on the tax form?

You need to be careful. Your school should be giving you a 1099 for your scholarship money paid by the Navy, and another one if they give you any more scholarships. The only time you have to report the scholarship money is if you keep any of it. So if the Navy paid too much and your school gave you the extra money, or for a tuition rebate.

So basically it only matters if you accidentally got too much money.

 

[Pags]

Know how light beer is like having sex in a canoe?

Both are best enjoyed when the weather is warmer?

 

[FormerRecruitingGuru]

Kids these days. I'd rather get the silver bullet than drink the Silver Bullet . . .

Know how light beer is like having sex in a canoe?

Come back when you're living off a college budget, when "any beer that gets you drunk" is good beer.

Needless to say if I did have the extra funds of course i'd drink more "quality" beers.