<human>: Hi everyone! I apologize for the ignorance I'm about to spew out. I'm a 20-year-old college student with a minimal knowledge of personal finances. I have a savings account and a Roth IRA, but everything besides that I'm pretty much clueless.

Especially taxes. Since my first part-time job 5 years ago, my parents have very graciously filed my taxes for me. However, despite this convenience, it has left me with little knowledge of how taxes work. 

This is very relevant to my life now, since I am starting a summer internship soon where I will be receiving at $3500 stipend for the whole summer. Because my internship is through a start-up online company, I will be receiving this payment through PayPal. I know this seems sketchy, but I have received and cashed out their PayPal payments before for other projects.

My question here is this - is this money taxable? A quick Google search couldn't confirm whether a "stipend" is taxable. I am 99% sure I won't be receiving a W-2, proof of employment, or any pay stubs from this company (my official capacity is "independent contractor"), so how would I report the income to IRS? Additionally, do I have to?

I apologize once again for my lack of knowledge on taxable income. Thanks so much for your help!

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<bot>: Receiving $3500 stipend for summer internship thru PayPal. Is this taxable income, or are stipends in any way exempt?