Received 1099-NEC as a student for a university job

[aparnakumar]

Hi,

I am a full-time undergrad student. I received 1099-NEC for a part time job (dorm advisor) at my university. I used this amount toward my room and board charges for the year. Can I avoid paying tax for this amount? Specifically, can I add this as a miscellaneous income in TurboTax with a minus (negative) dollar amount, in addition to reporting this as 1099-NEC income? Thank you for responding.

[jello999]

Yeah, definitely don't do that.

You received income from a job, then spent that money on expenses. Regardless of what expenses you put it toward, you're subject to the same two-step process as all taxpayers. First, you owe taxes on the income based on the federal (and probably state) tax rates. Second, you may qualify for deductions or credits that reduce that tax burden - there's a bunch of them, and qualifications for each are specific and not subjective.

These deductions and credits are the only correct (aka legal) way to avoid taxes on income. Making your own alterations to the income you report is perpetuating tax fraud.

[aparnakumar]

Thank you.

The reason I was asking is the response provided for a related question at https://ttlc.intuit.com/community/tax-credits-deductions/discussion/1099-nec-graduate-student/00/226...

Is my situation different? Thanks again.

[AmyC]

I agree that entering it with the 1098-T is the best place. If you are unable, you can enter the form and watch out for these questions.

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.