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Hi, I received a 1099-NEC for a scholarship I received. Researching online It appears this is the wrong tax form. Any advice?

 
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PatriciaV
Employee Tax Expert

Hi, I received a 1099-NEC for a scholarship I received. Researching online It appears this is the wrong tax form. Any advice?

Even though the IRS instructions for Form 1099-NEC state that taxable scholarships should be reported on Form W-2, you can still report this income using the form you do have.

 

Open your return and go to Federal >> Wages & Income >> Other Common Income >> Income from Form 1099-NEC. Click Start/Update.

 

Or enter 1099-nec in the Search box located in the upper right of the program screen.  Click on Jump to 1099-nec.

 

  1. On the screen Did you get a 1099-NEC?, click on Yes.
  2. On the screen Do You Want to Enter Your 1099-NECs Now?, click on Add a 1099-NEC.
  3. On the screen Let's get the info from your 1099-NECenter your information and click Continue.
  4. On the screen Describe the reason for this 1099-NECenter a reason and click Continue.
  5. On the screen Does one of these uncommon situations apply? Select This is not money earned as an employee or self-employed individual, it is from a sporadic activity or hobby and click Continue.

 

These entries will report the income on Schedule 1 Line 8z Other Income. The total from Schedule 1 Line 10 flows to Form 1040 Line 8 as ordinary income.

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2 Replies
ee-ea
Level 15

Hi, I received a 1099-NEC for a scholarship I received. Researching online It appears this is the wrong tax form. Any advice?

Deal with it as if it were  the correct form.

PatriciaV
Employee Tax Expert

Hi, I received a 1099-NEC for a scholarship I received. Researching online It appears this is the wrong tax form. Any advice?

Even though the IRS instructions for Form 1099-NEC state that taxable scholarships should be reported on Form W-2, you can still report this income using the form you do have.

 

Open your return and go to Federal >> Wages & Income >> Other Common Income >> Income from Form 1099-NEC. Click Start/Update.

 

Or enter 1099-nec in the Search box located in the upper right of the program screen.  Click on Jump to 1099-nec.

 

  1. On the screen Did you get a 1099-NEC?, click on Yes.
  2. On the screen Do You Want to Enter Your 1099-NECs Now?, click on Add a 1099-NEC.
  3. On the screen Let's get the info from your 1099-NECenter your information and click Continue.
  4. On the screen Describe the reason for this 1099-NECenter a reason and click Continue.
  5. On the screen Does one of these uncommon situations apply? Select This is not money earned as an employee or self-employed individual, it is from a sporadic activity or hobby and click Continue.

 

These entries will report the income on Schedule 1 Line 8z Other Income. The total from Schedule 1 Line 10 flows to Form 1040 Line 8 as ordinary income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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