Yes. You need to report the 1099-MISC income becau...
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danielbgraham
New Member

Do I report taxable income from research fellowship on 1099-MISC?

 
5 Replies
SusanH
New Member

Do I report taxable income from research fellowship on 1099-MISC?

Yes. You need to report the 1099-MISC income because otherwise you will have a mismatch with information sent to the IRS.

However, Fellowship Income is not subject to Social Security and Medicare (self-employment tax).

Since taxable fellowships have to be reported as wages, we want the amount to go to line 7 of the Form 1040.  Make sure you remove any/all the entries you may have previously made for this fellowship.

 

Here is how to enter your fellowship income in TurboTax:

  • Go to Federal Taxes (Person if using Home & Business)
  • Wages and Income (Personal Income if using Home & Business)
  • I'll choose what I work on
  • Scroll down to Less Common Income Section
  • Click start across from Miscellaneous Income, 1099-A, 1099-C
  • Click start across from Other income not already reported on a Form W-2 or Form 1099
  • Answer Yes on the Other Wages Received screen
  • Continue twice past Wages Earned as a Household Employee and Sick or Disability Pay
  • Answer Yes on the Any Other Earned Income screen
  • Select Other on the Enter Source of Other Earned Income screen
  • Enter the appropriate description and amount under the correct individual on the Any Other Earned Income screen
Ras27
New Member

Do I report taxable income from research fellowship on 1099-MISC?

Why is this prompting me to complete a Schedule C and what do I put on it?  It appears to be for self employment not fellowship that was receiveded on 1099-MISC. 

DavidD66
Employee Tax Expert

Do I report taxable income from research fellowship on 1099-MISC?

This should be reported as "Other Income".  to enter in TurboTax, while in your return:.

  • Type "Other Income" in the search window
  • Click on "Jump to Other Income"
  • Enter the information from your Form 1099-MISC, and click on Continue
  • Enter a description such as "Fellowship" and click on Continue
  • On the screen with "Does one of these uncommon situations apply?", indicate "None of these apply"
  • Answer "No..." to "Did the Fellowship involve work that's like your main job?"
  • Answer "I got it in 2019" when asked "How often did you get income for Fellowship?"
  • Answer "No, it didn't involve an intent to earn money."

The amount will be reported on line 8 of Schedule 1 (Form 1040).

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Taxseasonisuponus
New Member

Do I report taxable income from research fellowship on 1099-MISC?

https://www.irs.gov/taxtopics/tc421

According to topic no. 421 for scholarships and fellowships, the amount of taxable scholarship/fellowship should be report as SCH on line 1. How would we do that?

HelenC12
Employee Tax Expert

Do I report taxable income from research fellowship on 1099-MISC?

@Taxseasonisuponus  

 

Here is how to enter your fellowship income in TurboTax:

  1. Click on Federal in the left-hand column, then on Wages & Income on top of the screen
  2. Scroll down to Less Common Income section and click Show More
  3. Click Start next to Miscellaneous Income, 1099-A, 1099-C
  4. Click Start next to Other income not already reported on a Form W-2 or Form 1099
  5. Answer Yes on the Other Wages Received screen
  6. Continue twice past Wages Earned as a Household Employee and Sick or Disability Pay
  7. Answer Yes on the Any Other Earned Income screen
  8. Select Other on the Enter Source of Other Earned Income screen
  9. Enter the appropriate description and amount under the correct individual on the Any Other Earned Income screen.

Source: MinhT

 

Scholarships, fellowships, and Pell grants received by registered students who are working towards a degree at a college, university, or other accredited educational institution are generally nontaxable as long as the money is used for qualified education expenses.

 

On the flip side, you can't claim education credits or deduct expenses that were paid with these tax-free funds.

[Edited 3-31-2021|7:02 AM PST]

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