Hi all,
I went to a conference. I was reimbursed for expenses (hotel, conference fee, etc) using mostly the yearly education expense money we get as residents and partially from the once a year conference money we get if we're presenting a topic. I had paid for all of it with my credit card, and gave my program the receipts. My residency program apparently reported the entire amount that was reimbursed as taxable income. Now I owe the IRS back taxes for that year. Obviously I did not report that as taxable income because at no other point have I had to report it as taxable income (including a different year for the SAME program). My question is- is that truly taxable income? Does it vary by GME program or state? Was this an error by my program?
I asked the other residents if any of their educational money use was counted as taxable income and they said it was not. So, either they are all lying (doubtful) or the program decided my money would be taxable and their money would not (which would be very odd behavior for a residency program). I'm supposed to reply very soon to the IRS about it, and I would appreciate knowing if any other programs out there are reporting reimbursed education expenses of their residents as taxable income. Thank you!
I went to a conference. I was reimbursed for expenses (hotel, conference fee, etc) using mostly the yearly education expense money we get as residents and partially from the once a year conference money we get if we're presenting a topic. I had paid for all of it with my credit card, and gave my program the receipts. My residency program apparently reported the entire amount that was reimbursed as taxable income. Now I owe the IRS back taxes for that year. Obviously I did not report that as taxable income because at no other point have I had to report it as taxable income (including a different year for the SAME program). My question is- is that truly taxable income? Does it vary by GME program or state? Was this an error by my program?
I asked the other residents if any of their educational money use was counted as taxable income and they said it was not. So, either they are all lying (doubtful) or the program decided my money would be taxable and their money would not (which would be very odd behavior for a residency program). I'm supposed to reply very soon to the IRS about it, and I would appreciate knowing if any other programs out there are reporting reimbursed education expenses of their residents as taxable income. Thank you!