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HPSP and Taxes

Discussion in 'Military Dentistry' started by jim85213, Jan 4, 2009.

  1. jim85213

    Dentist 10+ Year Member

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    This will be my first year doing taxes with military income. Any advice or deductions I should know of as a Navy HPSP student? Also, what's the deal with W-2's from the Navy? Do they send them in the mail or do I need to get them online somewhere?

    Thanks.
     
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  3. JSQUARED

    2+ Year Member

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    Make sure you claim the income. I got nailed 2 yrs after the fact when the Navy sent in a W2, but I never got one. It took a lot of work to undo, but eventually I got my money back after I refiled.

    I don't recall ever getting a W2 in the mail. You can get them online on mypay.dfas.mil, but I think this is only available when you are AD not IRR.
    I ended up calling some number to get a W2 sent to me.

    Good Luck.

     
  4. Aceofspades

    10+ Year Member

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    I thought the military will automatically deduct federal taxes from all your pay (bonuses included).
     
  5. jim85213

    Dentist 10+ Year Member

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    They do but I still need to file.

    I should add that I got my W-2 in the mail.
     
  6. Kokugeka Shiro

    2+ Year Member

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    Do they tax the stipend or is it tax-free like a BHA? I was kind of under the impression it would be treated the same, but i haven't read the contract yet...
     
  7. kalvydas

    kalvydas Navy way ended. Army....
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    This is form NAVMED student handbook: http://www.med.navy.mil/sites/navmedmpte/accessions/Documents/NAVMEDMPTE%201520.1B%20STUDENT%20PROGRAM%20HANDBOOK.pdf

    2-5. Taxation of benefits.
    1. Stipends are taxable. The amount of Federal tax withheld is based on number of exemptions claimes on Employee's Withholding Certificate (form W-4) submitted at the time of entrance into the program and placed in the student's service record. If no W-4 is received, the stipend is taxed at the rate of single individual with no dependents...

    2. State Tax is currently withheld from stipend checks...
     

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