.
There have been no changes to the tax law affecting the reporting of stipends. To report your stipend as exempt from self-employment in TurboTax follow these steps:
- With TurboTax open Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C
-
On the next page, select Other reportable income
-
On the page, Other Taxable Income enter stipend in the description.
This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS. You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.
You may want to amend your 2018 tax return if your stipend was subject to self-employment tax to report the stipend as exempt from self-employment tax.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
