My wife spent last summer conducting an internship to do remote research on Native Indian Reservation Project and received a 1099-NEC for compensation that was paid through AIHEC (American Indian Higher Ed. Consort). I already know this should count towards income and taxes have to be paid. What I am concerned with is by using TT to report it, it will drive into a Schedule C. There seems not to be enough guidance here on what to use for the name of the business and business address. Also, what would be best for choice of accounting method. Does Schedule G or F apply and if so what options in TT should be chosen? You'd think IRS would have a box that you could click as "Paid Internship" that would simply explain the income and with that indicate that it is just self-employment, not running a business. Any tips on what to do? I intend to call in tomorrow on the options I think were correct to choose for running into Schedule C.
