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kcband
Level 1

1099 MISC For Stipend

I received a stipend for my job.  I am a preschool teacher and a local agency gives us a semi-annual stipend.  We need to apply for each one and it is based on current employment.  I entered it under 1099 MISC but then it takes me to Schedule C.  I am not a business, so I have no expenses.  I still receive a W-2 for my regular employment.

 

What is the best way to account for this?

 

 

3 Replies
DaveF1006
Expert Alumni

1099 MISC For Stipend

You will report this in your Turbo Tax return as it is income. Here is the correct way to report it. First

  1. Log into turbo tax
  2. Before you take the remaining steps, I suggest you delete the original 1099-Misc you recorded in your return so this procedure will work correctly. once it's deleted then reenter using the following steps
  3. Go to federal>wages and income>other common income
  4. Form 1099-MISC>revisit
  5. Select edit next to the 1099-MISC
  6. Scroll through the entry and then the program will ask Describe the reason for the 1099-Misc 
  7. As you move through the screen, the program will ask if this is like your main job.  If you say yes, it will expect you to fill out a schedule C. For this purpose, say no.
  8. Next it will ask how often did you receive this income. If this was the first year you received it, indicate so.
  9. Now it will ask you if you have the intent to earn money.  Indicate no.
  10. if this is done correctly, it will not ask for a Schedule C because this will appear as OTHER INCOME in your return.

Be sure you don't enter this as a 1099-MISC in self-employment income. There are a couple of reasons why it asked for a schedule C

  • You entered this in the self-employment section.
  • Or you either indicated there was an intent to earn money or it was like your main job.
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kcband
Level 1

1099 MISC For Stipend

HI Tom, 

 

Thanks for helping with this.  Will I enter the Payer's TIN and what will I say they reason for the 1099MISC is for? It seems to what to fill out a schedule C.

 

I did answer no to my main job, entered that I received in 2019 and 2020 and my intend to earn money was no.  I does show up on the 1040 as other income.

 

Thanks

Nancy

LinaJ2020
Expert Alumni

1099 MISC For Stipend

In the TurboTax program, under Uncommon situation, see image below, you can select option for research study and answer you did not intend to earn the income .  This will prevent you from getting into the Schedule C.  The amount will show on line 8 of Schedule 1 and Form 1040. 

 

 

 

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