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Business & farm
No, a stipend is not considered a trade or business as indicated by @MaryK4. For this reason the stipend is treated as Other Income. Report the income using the instructions below.
Other Miscellaneous Income:
- Sign into your TurboTax Online account
- Go to Tax Home (left panel) Wages and Income section
- Scroll to Less Common Income > Select Miscellaneous Income, 1099-A, 1099-C
- Select Other reportable Income > Enter a description (----) and the amount
- For TurboTax Desktop > Income > Scroll to Less Common Income > .......
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‎February 8, 2025
9:55 AM
3,208 Views