A fulbright award for research, lecturing, or teaching
is taxable on your tax return unless you can claim
the foreign earned income exclusion on
your tax return. If you don't qualify for the tax exclusion of
your fulbright award and your
overseas stay is temporary and you intend to return to your regular teaching position in
the U.S. you may deduct the cost of your travel, meals, and lodging
overseas on your tax return.
If
at least 70% of a fulbright award is paid in a foreign currency that is
"blocked" and not convertible to U.S. currency, you can pay your U.S. income tax
due with your tax return in the foreign currency.
IRS publications about a fulbright award: For more tax information about a fulbright award see
IRS Publication
520,Scholarships and Fellowships. Also see
IRS Publication 17,Your Federal
Income Tax.
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For further information regarding IRS
rules and regulations and your particular tax or IRS situation you should
consult with a Certified Public Accountant, Enrolled Agent, Attorney, or
other tax advisor.
Scholarships and Fellowships. Also see
IRS 
