☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 12:08:22 AM

If I receive a board meeting stipend and get a 1099 and I put that amount into the 1099-MISC section how should I classify myself as a business on line B of Schedule C?

0 1 798
1 Best answer
Level 2
Jun 6, 2019 12:08:23 AM

When you enter your 1099-MISC for your board meeting stipend and click Continue, the screen Does one of these uncommon situations apply? should come up.  Choose the second option [Name] was on a board of directors; this was [Name's] fee. 

If that doesn't work to populate Box B of the Schedule C, then you may choose the option "999999 - Not Otherwise Classified."  The IRS business codes are not very detailed.

1 Replies
Level 2
Jun 6, 2019 12:08:23 AM

When you enter your 1099-MISC for your board meeting stipend and click Continue, the screen Does one of these uncommon situations apply? should come up.  Choose the second option [Name] was on a board of directors; this was [Name's] fee. 

If that doesn't work to populate Box B of the Schedule C, then you may choose the option "999999 - Not Otherwise Classified."  The IRS business codes are not very detailed.