I received a 1099-NEC form . This was from a hospital that was paying tuition assistance for college. How do I input this information, where its not actually income?
I received a 1099-NEC form . This was from a hospital that was paying tuition assistance for college. How do I input this information, where its not actually income?
What is your relationship with the hospital? Are they your employer? Why did they give you this money. All money you receive is taxable income, unless exempt in the tax code.
Tuition assistance from an employer (up to $5250) is tax free, but the employer's tuition assistance plan must be in compliance with the tax code. The first $5250 is not reported on an IRS form (W-2 or 1099-NEC). Anything over $5250 is included as taxable income on your W-2.
The fact that you have a 1099-NEC means it's taxable. We need to know if it's wages, self employment, scholarship or "other income", to know where to enter it in TurboTax.