I provided panel review services for National Science Foudation. They paid me a fixed amount of money which will cover lodging and meals. I got a 1099-MISC for the money they paid to me. I am wondering how to import it to TurboTax. I don't think it is

[ceenice1906 · Accepted solution]

I also received a 1099-MISC for serving on an NSF review panel as well, and I reported it.  This means the 1099-MISC was also reported to the IRS/government; therefore, you should report the payment.  However, you can deduct (substract) the travel related expenses such as lodging, meals, etc., from the NSF payment, which significantly reduced the taxable income for me.  TurboTax simply "walked" me through the process to do this.

[laduebiz]

Did you have to upgrade to TurboTax Self Employed in order to deduct the expenses? If not, how did you do it?

[cm8404]

Any update on this?  I, too, did not net any income from serving on a panel, but it appears the only way to enter in these items as income and then the subsequent expenses is to upgrade to Self Employed?

[laduebiz]

I finally upgraded today and with $822 in expenses this changed my taxes owed by about $200. So while I wish I'd just done my taxes on paper, I will net about half of that after the cost to upgrade to self-employed. I wish TurboTax had as simpler option to get Schedule C stuff entered for this very simple one-off situation. :(

[pddijkstra]

I believe we also have to fill out a Virginia State return. Is that correct? If yes, where can I deduct travel related expenses (meals, hotel, etc.) from the NSF payment?

[NYC question]

Anyone know about the Virginia State Return?

[DawnC]

The Schedule C information that you enter on the federal return will transfer to your state return.  @NYC question   @pddijkstra

[mew767]

This is so frustrating. I too served on an NSF panel in 2019 and don't remember it being this hard to deal with a 1099 Misc in previous tax years. I also hate it that having to go to a schedule C means Intuit gets to put you over the barrel for putting a few numbers on a single form AND if you don't keep track of all of your expenses so you have an idea if it is even worth it, you could be wasting your time and money by paying for the turbotax upgrade.

Really wish NSF would make this more clear to panelists so they know what they are getting into with their taxes. It is so silly to treat this as self employed business.

[Critter-3]

If you qualify you could use one of the IRS FREE FILE options:

1. Go to gov/freefile to see all Free File options.
2. Browse each of the 10 offers or use a "look up" tool to help you find the right product. Each Free File partner sets its own eligibility standards generally based on income, age and state residency. But if your adjusted gross income was $69,000 or less, you will find at least one free product to use. Two products are in Spanish.
3. Select a provider and follow the links to their web page to begin your tax return.
4. Complete and e-file your tax return only if you have all the income and deduction records you need. The fastest way to get a refund is by filing electronically and selecting direct deposit. If you owe, use direct pay or electronic options.

You do not have to be EITC eligible in order to qualify for Free File. Any individual or married couple that meets the income limitation can qualify. First-time filers or college students are key users. Military personnel who meet the income requirement can use any of nine partner products. And seniors who want to file the new Form 1040-SR because they are over 65 and taking the standard deduction also can use Free File.

Remember, if you meet the income requirement you will find at least one free online product. To avoid fees for state tax returns, look for a partner that offers free state tax return preparation or check out your state's tax agency website to see if they are members of the State Free File program.

[MDV]

Thank you - but how did turbotax walk you through it?

I don't see where to start entering these expenses.

(Do I have to declare myself a business?)

[Critter-3]

• Does a 1099-MISC mean I'm self-employed?

https://ttlc.intuit.com/replies/4770969

• Where do I enter a 1099-MISC?

https://ttlc.intuit.com/replies/4770594

Where do I enter Schedule C?

We'll automatically create and fill out Schedule C or C-EZ when you set up your business in TurboTax, or when you enter what the IRS considers self-employment income (often reported on a 1099-MISC).

Schedules C and C-EZ are supported in TurboTax Self-Employed (online and mobile app) and in all personal 1040 versions of the TurboTax CD/Download software.

To set up your business:

1. Log in and then select the "Take me to my return" button.
2. Search for schedule c and select the "Jump to" link in the search results.  (If you don't see the link, go back to the "Tax Home" screen and make sure you've selected "take me to my return.")
3. Answer Yes to Did you have any self-employment income or expenses? or Did you have any income and expenses for a business in 2017? and follow the onscreen instructions.

Or, if you need the Schedule C to report a 1099-MISC, search for 1099misc, then select the "Jump to" link.

Answer Yes to Did you get a 1099-MISC? and follow the directions. We'll ask questions to find out if the income needs to go on Schedule C or C-EZ--if it does, we'll add the schedule to your return.

Note: On returns that only require Schedule C-EZ, we'll also generate Schedule C, but this is only used for calculation purposes and isn't filed with the return.

Related Information:                            

• Which TurboTax Online version do I need for a Schedule C?
• How does Schedule C-EZ differ from Schedule C?
• How do I delete a prior-year Schedule C business that transferred over?
• Why can't I create a Schedule C in TurboTax Business?

[vanderkinos]

Walking through my process, TT is having me fill out Virginia state tax form for this misc income. Has anyone else had to do this?

[Critter-3]

If you are a VA resident all income from all sources is taxable on the VA return ... why do you think otherwise ?

[vanderkinos]

because I'm NOT from VA. I'm from WI and this NSF 1099-MISC income was generated on a 2019 panel visit to VA and TT is interpreting that as needing to be considered a contractor payment for work done in VA and hence needing to file non-resident taxes in VA. I've never had to do this before despite doing several panels in the past and am confused why it's coming up this year. I saw a previous poster ask about this as well so wonder if anyone has resolved it.