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Am I able to deduct expenses for my out of state internship? I received a $4000 stipend from my school for this which was reported to me on a 1099-misc.

 
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3 Replies
DDollar
Expert Alumni

Am I able to deduct expenses for my out of state internship? I received a $4000 stipend from my school for this which was reported to me on a 1099-misc.

It looks like you are using TurboTax Desktop, Basic.  If you want to deduct expenses, you can upgrade to home and business and use the interview feature, or you go to Forms mode and enter directly on Schedule C.  To do the later, click on Forms in the upper right of your screen.  Once in Forms mode, on the left hand side, Click on Open Form.  Locate your Schedule C under Forms in my Return, and click to open.  Enter your expenses on the form.  Do not "override" any fields.  If you do, you won't be able to e-file and the accuracy guarantee will be void.

Am I able to deduct expenses for my out of state internship? I received a $4000 stipend from my school for this which was reported to me on a 1099-misc.

Thank you!  Would housing and transportation be deductible expenses?  This was an unpaid internship out of state.
DDollar
Expert Alumni

Am I able to deduct expenses for my out of state internship? I received a $4000 stipend from my school for this which was reported to me on a 1099-misc.

No, unfortunately there is no deduction for housing and transportation.
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