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Level 1
posted Feb 16, 2024 10:48:45 AM

I'm a full time student and received a 1099-NEC for a scholarship I got for an internship. Do I have to report this as self-employed income? Any other way to report it?

I thought I received this as a scholarship that I did not have to pay taxes on. Reporting it as self-employment income rather than a scholarship is drastically affecting my return so would appreciate any advice!

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1 Best answer
Expert Alumni
Feb 16, 2024 12:25:03 PM

Right after you enter the reason for the form, the next question needs to be marked. No, the sender will not affect your return.

 

 

3 Replies
Expert Alumni
Feb 16, 2024 11:47:47 AM

If the 1099-NEC is not a business, you have to mark:

  •  no intent to earn money 
  • mark that the income is only for this tax year, 2023 . Otherwise the program will think it is recurring income and a business.

Level 1
Feb 16, 2024 12:13:43 PM

Hi Amy,

 

Where would I mark I have no intent to earn money? I marked that this income started and stopped in 2023.

 

The organization that provided me the scholarship and sent me the 1099 is a non-profit if that affects anything.

 

Thank you.

Expert Alumni
Feb 16, 2024 12:25:03 PM

Right after you enter the reason for the form, the next question needs to be marked. No, the sender will not affect your return.