I received $4,000 in gift cards from UF Lastinger Center because I completed their Literacy Matrix program courses. It was a stipend for finishing the courses.
They haven't given me any tax information, and they weren't my employer. I was a self-paced student in their program.
How do I handle reporting the stipend as income?
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It's possible that the UF Lastinger Center could send you a Form 1099-MISC if they consider the stipend taxable income and if the total amount paid to you exceeds $600. Organizations are generally required to send out 1099 forms by January 31 of the following year.
Here are a few steps you can take:
Contact the UF Lastinger Center: Reach out to them and ask if they will be issuing a Form 1099-MISC for your stipend. This will clarify whether you should expect any tax documentation from them.
If You Don't Receive a 1099: Report the income yourself using TurboTax. Follow these steps:
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