ToddL99
Expert Alumni

Get your taxes done using TurboTax

If you are performing any duties in conjunction with the stipend (e.g. teaching assistant, research assistant, student teacher, clerical work, etc.), then the payment is considered "self-employment income". This income is subject to both income tax and self-employment taxes 

 

To enter your 1099-NEC, you may use this shortcut in TurboTax to get to the right page: 

  1. Open your return.
  2. Search for 1099-NEC with the magnifying glass tool at the top of the page.
  3. Click on the Jump to 1099-NEC link at the top of the search results. 
  4. Click Add a 1099-NEC.
  5. Enter the information as shown on your form. 
  6. Follow the on-screen instructions. 
  7. On the page titled Guess what? You can deduct expenses for the example work choose Yes, I have expenses to deduct.
  8. On the page titled Self-employed 1099-NEC Income select the Schedule C you are inputting this income for. If this is a new Schedule C for this year, you can add a new business on this screen.

To confirm your 1099-NEC was linked to your Schedule C, please follow the instructions below:

  1. Open your return.
  2. Search for Sch C with the magnifying glass tool at the top of the page.
  3. Click on the Jump to Sch C link at the top of the search results. 
  4. On the page titled Your 2020 self-employed work summary, you should see your 1099-NEC listed with the corresponding amount. 
  5. Click review next to the income from your 1099-NEC. 
  6. Follow the on-screen instructions on the following pages.