1099-misc and schedule c
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kelly0506
Returning Member

1099-misc and schedule c

Hi,

 

I received a 1099-misc as a scholarship award for the AmeriCorps program (and used it to pay off my student loans) and am now being asked to fill out a schedule c but don't own my own business. Do I need to fill out a schedule c?

3 Replies
MinhT1
Expert Alumni

1099-misc and schedule c

If you receive a form 1099-MISC for a scholarship award, then you are not considered as self-employed and do not need to file a Schedule C.

 

In TurboTax, enter your form 1099-MISC and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this did not involve an intent to earn money. The amount will be reported as Miscellaneous income and will not be subject to Self-employment tax.

 

In TurboTax, there is a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2020, not in previous years and not in 2021, you will then have the screen where you can say that it did not involve an intent to earn money.

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kelly0506
Returning Member

1099-misc and schedule c

the page did this involve an intent to earn money didnt come up

MinhT1
Expert Alumni

1099-misc and schedule c

Please follow carefully the work around described at the end of my previous answer.

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