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bwg2109
New Member

What is the best way to report an academic stipend?

I received an stipend for living expenses as part of an academic fellowship, and my university does not provide 1099s for stipends. What is the best way to enter this income? I tried entering it as a 1099-MISC (despite the fact that I cannot actually get a 1099 form from the university), but TurboTax says that I will need to pay self-employment taxes, despite the fact that I wasn't actually self employed.
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RichardG
New Member

What is the best way to report an academic stipend?

Report that income by going to Federal Taxes>Wages & Income>Less Common Income>Miscellaneous Income.  On the next screen select other reportable income.  Enter stipend as the description and enter the amount of the stipend.

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1 Reply
RichardG
New Member

What is the best way to report an academic stipend?

Report that income by going to Federal Taxes>Wages & Income>Less Common Income>Miscellaneous Income.  On the next screen select other reportable income.  Enter stipend as the description and enter the amount of the stipend.

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