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I want to enter expenses for hosting a foreign transfer student and the 1099-misc we received for the stipend. Why do i have to purchase the self-employed version of TT?

 
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1 Reply
pk
Level 15
Level 15

I want to enter expenses for hosting a foreign transfer student and the 1099-misc we received for the stipend. Why do i have to purchase the self-employed version of TT?

enter the 1099-misc  income as shown on the form --  if it is in box 7 then TurboTax will walk you through a chedule-C ( self-employment income )  and you get to  deduct all expnses associated with this 1099-misc income.  If it is shown in Box -3  then it will flow to the 1040 as "Other" income.

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