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I have an educational stipend I don't know how to file

 
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Employee Tax Expert

I have an educational stipend I don't know how to file

Did you receive an actual 1099-MISC for this income?  Unless you did, you should report your stipend as follows: 

  • Go to Federal Taxes >  Wages and Income
  • Scroll to the Less Common Income section and choose Miscellaneous Income (the last choice) 
  • Choose Other income not already reported on a Form W-2 or Form 1099
  •  Answer Yes on the Other Wages Received screen
  • Continue past Wages Earned as a Household Employee and Sick or Disability Pay
  •  Answer Yes on the Any Other Earned Income screen
  •  Choose Other on the Enter Source of Other Earned Income screen
  •   Enter your stipend information on the Any Other Earned Income screen.

This will report your stipend on line 7 of your Form 1040, and you will not be subject to Self-Employment Tax.

 

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Highlighted
Employee Tax Expert

I have an educational stipend I don't know how to file

Did you receive an actual 1099-MISC for this income?  Unless you did, you should report your stipend as follows: 

  • Go to Federal Taxes >  Wages and Income
  • Scroll to the Less Common Income section and choose Miscellaneous Income (the last choice) 
  • Choose Other income not already reported on a Form W-2 or Form 1099
  •  Answer Yes on the Other Wages Received screen
  • Continue past Wages Earned as a Household Employee and Sick or Disability Pay
  •  Answer Yes on the Any Other Earned Income screen
  •  Choose Other on the Enter Source of Other Earned Income screen
  •   Enter your stipend information on the Any Other Earned Income screen.

This will report your stipend on line 7 of your Form 1040, and you will not be subject to Self-Employment Tax.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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