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Is a small stipend reportable income?

Hello,

In addition to my regular job, I also worked a 1-day event for my town where I was paid a very small stipend. It was under $50 and they did not give me a tax-form. Is this income reportable; and if so, how would I report it? Also, would I be able to use the free version of Turbotax for this? 

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1 Reply
MinhT1
Expert Alumni

Is a small stipend reportable income?

You have to report all income, however small.

 

This income has to be reported as Other reportable income.

 

In TurboTax, open your return and follow these steps:

 

  1. Click on Federal in the left-hand column, then on Wages and Income
  2. Locate the Less Common Income section and click on the arrow on the right
  3. Click Start next to Miscellaneous Income at the bottom
  4. On the next page, click Start next to Other Reportable Income

You cannot use TurboTax Free edition to report this income as this is reported on Schedule 1 of form 1040 which is not covered by the free edition.

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