Report the income in Less Common Income. Regarding the scholarship, begin in the Deductions & Credits area under Education, in the same area as the 1098-T is reported. Answer No, that you did not receive it. Capture all your details here pertaining to the scholarship. Congratulations on your acceptance into the program!
For the 1099-MISC:
- From the left menu, select Federal
- Wages & Income scroll all the way down to Less Common Income and click Show More
- Select the last listed option for Miscellaneous Income 1099-A, 1099-C, click Start
- Next, select the last listed option Other Reportable Income
- Did you receive any other taxable income, click Yes
- Other Taxable Income: Enter your description and the amount and click Continue and Done. Disregard the comment "Do not enter income from Form 1099-MISC here" because this is meant to guide taxpayers reporting typical 1099-MISC income. Your case is less common and this is how you can report it in TurboTax.
Please click the articles for more information:
Are my scholarships, fellowships or grants taxable?
2019 IRS Publication 970 beginning on page 5
and also, see page 89: Scholarships and fellowship grants.
- Expenses for tuition and fees required to enroll at or attend an eligible educational institution, and
- course-related expenses, such as
- fees,
- books,
- supplies, and
- equipment
that are required for the courses at the eligible educational institution. Course-related items must be required of all students in the course of instruction.
IRS Tax Benefits for Education Center
Student Exception to Social Security and Medicare Taxes and therefore is not subject to self-employment tax--report as less common income
