- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
IRS lumped all income from non-employee compensation into 1099-NEC. Its convinience has caused confusion for students who receive an internship stipend. The distinction between self-employed income and student internship stipends is not made apparent in the software. Embedded in a list of six choices is a vague declaration that this is not earned income or self-employed income, but rather (uncommon) activities or hobbies. You should add in this choice that it is a "student internship stipend." This is not made clear enough so a person will choice "none of the above." This causes the software to trigger self-employment income development which denies the student the correct tax liability. Intuit needs to correct his.
‎April 10, 2023
1:01 PM