- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thank you for your quick response. Box 5 ( Scholarship) amount is much greater than Box 1 ( Tuition) ( $63746 vs $17896) so there is a taxable income. You mention to indicate the 1099-NEC amount of $1500 as one time payment. Is this the "This is not money earned as an employee or self-employed individual, it is from a sporadic activity" option on the 1099-NEC set of screens ?
I read another thread where it was suggested to enter a negative number ( -$1500) in the Less Income -> Other Reportable Income path and to enter a description of "1099-NEC amount duplicated in box 5 of 1098-T" and a negative 1500 for the Amount. (https://ttlc.intuit.com/community/taxes/discussion/1099-nec-scholarship-1098-t-1099-q/01/2932965) Should I do the same in our case ?