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March 21, 2021
Question

I received stipend money from an interenship at my University, I didn't get any tax documents from them. Where would I put this money?

  • March 21, 2021
  • 1 reply
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1 reply

March 21, 2021

This income is not characterized as self-employment income and is taxed as ordinary income. 

 

To enter this income, follow these instructions:

 

  1. Go to Federal>Income and expenses>all income>>show more 
  2. Less Common Income> Start
  3. Miscellaneous Income,>start
  4. Other reportable income>start
  5. Next screen asks Any Other Taxable Income>yes
  6. The next screen will allow you to report the income with a brief explanation.
  7. Here enter Stipend and the amount.
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Hal_Al
Employee
March 21, 2021

Entering it as "other income" has some disadvantages, particularly if you are a dependent on someone else's return. In particular your standard deduction is limited and it may be subject to the kiddie tax.

 

Alternatively, it can and (in my opinion) should be entered as taxable scholarship.  After entering your 1098-T, you will be asked if you had additional scholarship not shown on a 1098-T (or other document).  After entering the amount, indicate that it was used for room & board (and other personal expenses)