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You need to report the 1099-MISC income. However, fellowship Income is not subject to Social Security and Medicare (self-employment tax).
Since taxable fellowships have to be reported as wages, we want the amount to go to line 1 of the Form 1040.
Here is how to enter your fellowship income in TurboTax:
Thank you for your response. I am in the same situation as g_ady and followed your suggested steps and was able to report my fellowship income in less common income but now TurboTax is taking me into a loop at the review stage by which it takes me to the bellow step
Form 1099-MISC Worksheet (NNN University): A Link to Schedule C or another form is something we need to get your info in the right place. Here's what to do: Go to "Federal" and then "Wages & Income". Select "Income from Form 1099-MISC." Make sure to complete all of the info in this area. |
But when I finish inputting all info in the "wages & income", "Income from Form 1099-MISC," it loops again into review and asks me to "Check this entry" again."
Any help with this issue will be most appreciated.
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