Lucas T

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The (Potential) Impact of the New Tax Bill on Graduate Students

Posted by Lucas T on 12/13/17 6:09 PM

Dear Reader,

I'm Lucas, a graduate student in the Math Department at MIT and a tutor with Cambridge Coaching. Like most graduate students, I have intently followed the discussions about the new tax bill, thinking how it would affect my finances. As of this writing, only the House of Representatives’ version eliminates a provision that would directly affect graduate students, Section 117(d)(5) of the current code. Currently, Section 117(d)(5) says that “gross income shall not include any qualified tuition reduction;” with the repeal, that means that tuition reductions would count as gross income.

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Tags: graduate school