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Exclusion of Income for Volunteer Firefighters and Emergency Medical Responders

For tax years beginning after 2007 and extended through 2016, gross income does not include:

Rebates or reductions of property or income taxes provided by a state or local government for providing services as a member of a qualified emergency response organization (defined below). Any such rebate or reduction reduces the amount of the income tax deduction for such taxes.

Qualified payments made by a state or local government for providing services as a member of a qualified emergency response organization. The exclusion is limited to $30 multiplied by the number of months the member performs such services. A charitable deduction for expenses paid by the member in connection with performing such services must be reduced by any payment excluded from income.

A qualified volunteer emergency response organization is any volunteer organization organized and operated to provide firefighting or emergency medical services for persons in a state or local jurisdiction and required by written agreement with that state or local jurisdiction to furnish such services.

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How to report it!

Since you received a 1099-Misc, you are allowed to deduct $360.00 from the the amount 

The Form 1099-MISC income should be reported by you on Form 1040 Line 21. Income that is reported on Line 21, is not subject to SE tax [Medicare & FICA - also here known as SECA].

1. In TurboTax, navigate to the 2015 Income Summary [Personal Income - "I'll choose what I work on."] 
   
   
2. Scroll down to Other Common Income and Click on  Income from Form 1099-MISC
   
   
3. In 1099-MISC Summary click on Add a 1099-MISC
   
   
4. To be correct, given the specifics of Voluntary Firefighter stipend, the income should have been reported in Box 3 of Form 1099-MISC, but I have seen where it is instead erroneously placed in Box 7. 
   
   Right Click on the Box 3 entry box to bring up "Supporting Details"
   This brings up a lined page to enter details.
   On the first line, enter the description of the Stipend income and the gross amount
   On the second line enter "Volunteer Responder Incentive Protection Act   Public Law No 110-142" and as a offset amount enter the reduction of $30 per month as a negative number, in your case:  -360
   
   
5. For the question "Does on of these uncommon situations apply?"  enter None
   Then to the question if this involved your main job, enter "No"  and similarly enter "No" with respect to the question about "Intent"
   
   
6. The net compensation will flow to Form 1040 Line 21