Acbosgd.1653 net.taxes utcsrgv!utzoo!decvax!ucbvax!mhtsa!harpo!cbosg!cbosgd!mark Tue Jan 12 13:49:57 1982 Re: Hint of the week (ucbvax.5707 followup) Also, be careful when calling the IRS to ask questions. Chances are that if you call 3 times you will get 3 different people and 3 totally different answers. If they tell you on the phone you can do something you should find the place in the rules that says so before you actually try to do it - these phone info people seldom know what they are talking about. One other comment that is of interest to Research Assistants. You all presumably already know your income is tax exempt (no, if you're a TA it isn't unless you are at the rare university where you are REQUIRED to be a TA to get your degree). But you should be careful that at least 50% of your income is EARNED - that is, of your income you file on the wages line, at least 50% should have come from a taxable job that you or your spouse worked at. RA money and money from your parents actually count AGAINST you here. If you don't provide at least 50% of your support for EACH OF THE LAST 5 YEARS before you graduate, you won't be able to income average your first 5 years out, and this will cost you a bundle. Moral - if you were an RA all or most of 1981, do the arithmetic for the first 5 years both ways (counting your RA money nontaxable and taxable) and see which way comes out better - you could actually save money 5 years from now (or less) if you claim your RA money is taxable, and the IRS won't complain about you making that claim. ----------------------------------------------------------------- gopher://quux.org/ conversion by John Goerzen of http://communication.ucsd.edu/A-News/ This Usenet Oldnews Archive article may be copied and distributed freely, provided: 1. There is no money collected for the text(s) of the articles. 2. The following notice remains appended to each copy: The Usenet Oldnews Archive: Compilation Copyright (C) 1981, 1996 Bruce Jones, Henry Spencer, David Wiseman.