KolacheKowboy
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Ok, thanks. The amounts shown on the 1098-T don’t sync-up to the “net taxable amount” of scholarship income. I suppose I can manually adjust the amount entered ...
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Any other thoughts? And to confirm, taxable scholarship income should not be treated as unearned income for Child2?
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I prepared tax returns for each child (not filed yet), and for Child1, TurboTax did not treat the taxable scholarship as unearned income (the program did not ca...
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Daughter was 20 for 2022 tax year. Thanks for the clarification!
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If it's a business, then the 1099-NEC info will need to be entered on Schedule C in Turbo Tax, yes?
Activity Feed for KolacheKowboy
- Posted Re: How does kiddie tax work for 2 kids? Child1 had $17k W2 wages, $4k taxable scholarships. Child2 had $9k W2 wages, $16k 1099-NEC (business), $4k taxable scholarships. on Get your taxes done using TurboTax. April 3, 2023 8:00 AM
- Posted Re: How does kiddie tax work for 2 kids? Child1 had $17k W2 wages, $4k taxable scholarships. Child2 had $9k W2 wages, $16k 1099-NEC (business), $4k taxable scholarships. on Get your taxes done using TurboTax. April 3, 2023 5:15 AM
- Posted Re: How does kiddie tax work for 2 kids? Child1 had $17k W2 wages, $4k taxable scholarships. Child2 had $9k W2 wages, $16k 1099-NEC (business), $4k taxable scholarships. on Get your taxes done using TurboTax. April 2, 2023 10:02 AM
- Posted How does kiddie tax work for 2 kids? Child1 had $17k W2 wages, $4k taxable scholarships. Child2 had $9k W2 wages, $16k 1099-NEC (business), $4k taxable scholarships. on Get your taxes done using TurboTax. April 2, 2023 9:44 AM
- Posted Re: Form 1099-NEC -- business or hobby? on Get your taxes done using TurboTax. April 2, 2023 6:50 AM
- Posted Re: Form 1099-NEC -- business or hobby? on Get your taxes done using TurboTax. April 2, 2023 6:16 AM
- Posted Daughter rec'd 1099-NEC from Amazon for $15k for sales thru her storefront acct. She has $9k W-2 wages from different entity. Is this "hobby" or "business income"? on Get your taxes done using TurboTax. April 1, 2023 8:16 PM
- Posted Form 1099-NEC -- business or hobby? on Get your taxes done using TurboTax. April 1, 2023 7:40 PM
- Posted Re: Our dependent child rec'd 1098-T with Box 5 exceeding Box 1. Child has $18k in W-2 wages. Doe... on Education. March 28, 2023 1:25 PM
- Posted Our dependent child rec'd 1098-T with Box 5 exceeding Box 1. Child has $18k in W-2 wages. Does 1098-T (and taxable scholarships) go on child's or parent's tax return? on Education. March 28, 2023 8:39 AM