1099 NEC for Paid Internship 2022

[ColoGriz1]

My wife spent last summer conducting an internship to do remote research on Native Indian Reservation Project and received a 1099-NEC for compensation that was paid through AIHEC (American Indian Higher Ed. Consort).  I already know this should count towards income and taxes have to be paid.  What I am concerned with is by using TT to report it, it will drive into a Schedule C.  There seems not to be enough guidance here on what to use for the name of the business and business address.  Also, what would be best for choice of accounting method.  Does Schedule G or F apply and if so what options in TT should be chosen?  You'd think IRS would have a box that you could click as "Paid Internship" that would simply explain the income and with that indicate that it is just self-employment, not running a business.  Any tips on what to do?  I intend to call in tomorrow on the options I think were correct to choose for running into Schedule C.

[Bsch4477]

To enter your internship stipend in TurboTax Deluxe follow these steps.

With TurboTax open select  Wages & Income click on I'll choose what I work on.

Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C

On the next page select Other reportable income 

On the page Other Taxable Income enter internship stipend in the description. 

 This will put the income on Form 1040 Schedule 1 Line 21 as required by the IRS.  You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.

[ColoGriz1]

Re: Doesn't this 1099-NEC have to be entered in as a 1099-NEC as it was also filed to IRS by issuing entity?

[Bsch4477]

The taxpayer may make the determination that the income did not qualify for self employment income which is why you report it as other income. In the very unlikely event of an audit you would just explain what the circumstances were for earnings that income.