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May 11, 2020
Question

I got paid a stipend for the work I did last year and it is other income however it is shown as a business I own. I don't own this business. What can I do?

  • May 11, 2020
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1 reply

May 11, 2020

It depends.

 

Your input will depend upon what the income was earned for and the intent of earning the income.

 

If you are reporting this income as self-employment income (meaning you are running a business with the intent to make a profit), you will do the following in the Federal interview section: 

  1. Select Income & Expenses 
  2. Select Self-employment income and expenses 
  3. Proceed through the screens to enter your information 
  4. When you see the following for income, make sure to select"Other self-employed income.Includes 1099-K, cash, and checks." 

If it is not from self-employment, you would enter the information as follows: 

  1. Select Income & Expenses 
  2. Go to the  All Income section and select "Less Common Income" 
  3. Select "Miscellaneous Income" 

You will then select Other reportable income to enter your income from your 1099-Misc.  Be sure to mark that it was not earned as part of business.

 

 

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