Generally Stipend income is taxable. If you have more information about your fiancee's situation, please respond here.You report this income by following the steps below, assuming she didn't get a 1099 for it Note that she will need TurboTax Deluxe to report this income.:
- Go to Federal Taxes and choose Wages and Income.
- Scroll to the Less Common Income section and choose Miscellaneous Income (the last choice).
- Choose Other income not already reported on a Form W-2 or Form 1099.
- Answer Yes on the Other Wages Received screen.
- Continue past Wages Earned as a Household Employee and Sick or Disability Pay.
- Answer Yes on the Any Other Earned Income screen.
- Choose Other on the Enter Source of Other Earned Income screen (see the screenshot).
- Enter your stipend information on the Any Other Earned Income screen.
This will report your stipend on line 7 of your Form 1040, and you will not be subject to Self Employment Tax.
You can not claim your fiancee as a dependent if she had income of $4050 or more.
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