Can I count pre-funded project money as reimbursement?
I'm a researcher and won a grant a year ago to do a project. But, for reasons far too aggravating to get into, the university has been really dragging its feet on actually letting me spend the money they awarded me.
With the end of the fiscal year approaching, that money has to get spent or it goes away. The new plan is to have them just pay me the money as income, and then bankroll the project myself.
I've been avoiding this option because this presumably means I need to pay income taxes on the money, and thus do the project with a big budget cut. However, can I claim this as being a reimbursement, and thus omit it from my reported income? The university will likely withhold income taxes on the funds, so it seems unlikely that I could actually do this. But is this a realistic thing to do? Or am I grasping at straws?
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