AMWLeesh
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1099 nonemployee compensation includes travel & lodging stipend, but shouldn't this be excluded from taxable income?

For a job I did as a contractor, I received a fee sheet specifying compensation, travel stipend, and housing stipend separately. On my 1099-MISC, these are all combined in box 7. Nonemployee Compensation. For my regular W2 work, I do not think stipends of this nature are taxable. Is this true for 1099 work? If so, is there a way for me to account for this within TurboTax?

‎June 3, 2019 10:18 AM
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Hal_Al
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Get your taxes done using TurboTax

The "stipends" are reportable as income, on your Schedule C. But, you then get to deduct your actual expense (also on Schedule C) to determine your net taxable income. 

The 1099-Misc is correct.

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‎June 3, 2019 10:18 AM
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AMWLeesh
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Get your taxes done using TurboTax

Thanks so much! Just to be certain, for lodging I can deduct either my actual expense or the standard lodging allowance for that city, right?
‎June 3, 2019 10:18 AM
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Hal_Al
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There is standard allowance for meals, which you can use, bu not lodging (that I'm aware of)
‎June 3, 2019 10:18 AM
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