topic I received stipend money from an interenship at my University, I didn't get any tax documents from them. Where would I put this money? in Education

I received stipend money from an interenship at my University, I didn't get any tax documents from them. Where would I put this money?

gmliu01 — Sun, 21 Mar 2021 16:53:02 GMT

Re: I received stipend money from an interenship at my University, I didn't get any tax documents...

PattiF — Sun, 21 Mar 2021 17:27:44 GMT

This income is not characterized as self-employment income and is taxed as ordinary income.

To enter this income, follow these instructions:

Go to Federal>Income and expenses>all income>>show more
Less Common Income> Start
Miscellaneous Income,>start
Other reportable income>start
Next screen asks Any Other Taxable Income>yes
The next screen will allow you to report the income with a brief explanation.
Here enter Stipend and the amount.

Re: I received stipend money from an interenship at my University, I didn't get any tax documents...

Hal_Al — Sun, 21 Mar 2021 17:42:01 GMT

Entering it as "other income" has some disadvantages, particularly if you are a dependent on someone else's return. In particular your standard deduction is limited and it may be subject to the kiddie tax.

Alternatively, it can and (in my opinion) should be entered as taxable scholarship. After entering your 1098-T, you will be asked if you had additional scholarship not shown on a 1098-T (or other document). After entering the amount, indicate that it was used for room & board (and other personal expenses)