Entering 1099-misc for an elected student position stipend at university, box 3 income properly?

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I have a 1099-misc for an elected student position stipend at university, income in box 3 only. This was not self-employment and it is not related to my 1098t.

It seems I should put it in the 1099-Misc section, enter 'no enter to earn money', describe the reason for the stipend, and select only this applicable tax year.
Should I additionally scroll down to Other income-miscellaneous income and enter it as a negative number (for example: -2,000.00)?

Other answers similar to my scenario say this extra piece of the negative number is a necessary step. It sounds as though this is how I report it fully but effectively mark it non-taxable. It is unclear to me why that is the case; help appreciated!

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JohnW15

Level 10

From what you're describing this would be taxable income, but not subject to self-employment tax, since the intent isn't to make money. If you have expenses associated with this student position, you can claim those as a negative number, as you suggest.