in Education
220041
I received a letter for educational stipend disbursements for 2018 and no other tax documents. How is the stipend recorded under Turbo Tax?
I did not receive 1099-MISC for the stipend disbursements only a letter stating the total amount of stipend disbursements.
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To enter your educational stipend in TurboTax Deluxe follow these steps.
This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS. You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.
[Edited 03/11/2020 | 10:27 am PDT]
To enter your educational stipend in TurboTax Deluxe follow these steps.
This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS. You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.
[Edited 03/11/2020 | 10:27 am PDT]
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