Hello,
My son did a 10 week internship at a University and received a 1099-NEC for the stipend.
TT asks what type of Income is on your 1099-NEC ? and gives this 6 options
Self Employment income;
Farm;
Hobby;
Lawsuit settlement;
Medicaid payments;
Income that should be reported on a W-2;
If I select Self Employment, his taxes go up significantly as he owes Self employment tax.
If I don't any option, and proceed, TT does not include this stipend as Income anymore.
How to handle this situation since none of the 6 options matches correctly to his internship stipend earning ?
Thanks
