Per IRS, the AmeriCorps Education award should be reported on line 21, as Other Income and not as self-employment income.
When going through the 1099-Misc income, be sure to:
* select None of these apply on the "Does any of these uncommon situations apply" screen
* select No, it didn't involve work like my main job
* select No, it didn't involve an intent to earn money - such data entries will trigger the amount to be placed as Other Income on line 21, Form 1040, not subject to SE tax.
More details:
Per IRS, the AmeriCorps Education award should be reported on line 21, as Other Income and not as self-employment income.
When going through the 1099-Misc income, be sure to:
* select None of these apply on the "Does any of these uncommon situations apply" screen
* select No, it didn't involve work like my main job
* select No, it didn't involve an intent to earn money - such data entries will trigger the amount to be placed as Other Income on line 21, Form 1040, not subject to SE tax.
More details:
I am also getting this response and after going back multiple times and checking, there are no errors. Mine is on the W-2G gambling winnings form. I even deleted the form and started over. What do I do?
A W-2G is a totally different topic than the subject of this thread (educational awards'grants/scholarships).
See: https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-w-2g/01/26773#M249
Delete the 1099-MISC entry
Enter it again following these steps
This is not like your main job and is not an intent to earn money
Form 1099-MISC is intended to report the income of taxpayers who are not employees, such as independent contractors, freelancers, sole-proprietors, and self-employed individuals. The form is also used to report non-employee compensation such as rents, prizes, awards, healthcare payments, and payments to an attorney.
the Segal award is taxable and by doing the above, Turbotax is not taking the tax deductions from it which is wrong.
How does this work for the 2021 year? I am not getting the same prompts from Turbo Tax
You would enter the 1099-MISC for the Segal Education Award as Other Income, not as self-employment income.
To do this: