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mai-matsu
New Member

Is the income under "Box 3 Other income" on 1099-MISC considered a earned income or unearned income? I received this as an award money.

 
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5 Replies
TomK
Expert Alumni

Is the income under "Box 3 Other income" on 1099-MISC considered a earned income or unearned income? I received this as an award money.

It is unearned income.

Unearned income can be thought of as "passive" income that doesn't involve active work or a business activity, such as:

  • Interest, dividend, or investment income
  • Retirement or Social Security income
  • Alimony or child support
  • Unemployment or worker's comp
  • Gifts, prizes, awards, or winnings
  • Inheritances
  • Income received while incarcerated, even if it involves active work
Rolanda
Returning Member

Is the income under "Box 3 Other income" on 1099-MISC considered a earned income or unearned income? I received this as an award money.

if 1099 Misc is unearned income is this counted as reported inco e as award settlement. 

DaveF1006
Employee Tax Expert

Is the income under "Box 3 Other income" on 1099-MISC considered a earned income or unearned income? I received this as an award money.

To clarify, what was your 1099 MISC issued for?

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rb14
Level 1

Is the income under "Box 3 Other income" on 1099-MISC considered a earned income or unearned income? I received this as an award money.

my child received 1099-MISC with "Box 3 Other Income" for a research internship as education stipend. does it qualify as earned income or unearned income?

Is the income under "Box 3 Other income" on 1099-MISC considered a earned income or unearned income? I received this as an award money.

It depends. What will determine if it's earned income or not is whether it was paid for research and whether or not it was required to be used for specific education expenses?   If it wasn't required to be used for anything specific, and was for work performed it is earned income.

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