I am in MD/PHD program and am paid by the university for working by a federal grant and tuition is paid for under grant. No 1098. I recieved scholarship. how do I enter?
I am in MD/PHD program and am paid by the university for working by a federal grant and tuition is paid for under grant. No 1098. I recieved scholarship. how do I enter?
With TurboTax open select Wages & Income click on I'll choose what I work on
Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C
On the next page, select Other reportable income
On the page, Other Taxable Income enter Grant in the description.
This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS. You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.
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