
Anonymous
Not applicable
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
Hello aishaliane,
Thank you for participating in the Ask the Experts event. As to your question, just my speculation, but the funding agency may not send any type of tax document because it is undetermined how much may be taxable and leaves that up to you as the taxpayer to figure out.
From Topic No. 421, Scholarships, Fellowship Grants, and Other Grants on the IRS Website, we read that all or part of your fellowship stipend may actually be tax-free. That article will give you some guidance. Here is another good article from TurboTax: Are my scholarships, fellowships, or grants taxable?
Whatever taxable amount is determined should be reported on Form 1040, Schedule 1, line r.
I hope that helps.
‎August 30, 2023
10:07 AM