Glad I asked. Are you a college student that was enrolled "at least" half time for "at least" any one semester that started in the tax year?
Normally, that would be considered self-employment income. So you need to be more specific here.
"rewarded" to you? Were you paid for doing something for the college? If so, it's self-employment income. You'll pay regular income tax on it, as well as the additional Self Employment Tax. That means that as far as the IRS is concerned, you earned that income while self-employed and "in business" for yourself. It gets reported on a SCH C.
However, is this actually a scholarship or grant from the college? If so, there's a different way to handle this. But I also need to know if that income is reported to you on "ANY OTHER TAX DOCUMENT", to include a 1098-T if one was issued to you by the college.
