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Business & farm
Yes, you report the income. It's important for you to select 'None of these apply" and then you should also select the following:
- Other Common Income > Form 1099-MISC
- 'No' on the screen 'Did the '____' involve work that's like your main job?'
- 'No' on the screen 'Did the '____' involve an intent to earn money?'
This will report the income without any business activity and it will show up on Form 1040, Line 8 (From Schedule 1, Line 8z).
If the nonprofit organization is eligible for tax deductible donations then you can enter the amount as a charitable donation on Schedule A. If they are a 501(c)(3) organization then it should be tax deductible. You can use the search link below, however if they are new they may not yet be on it.
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‎April 14, 2022
11:13 AM