Question

1099-Misc received Teacher-Residency Stipend

Forum|Forum|4 years ago
April 17, 2022
1 reply
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Going to College for a Masters of Arts in Teaching. Received a 1099-Misc from State of MD for first12 month Teacher-Residency Program Stipend. After graduating I am committed to work for the next 3 years at one of the schools for specific county(ies). If I don't, I have to pay back. Do I have to record this as self-employed income?

LeonardS

No, you do not report your stipend as self-employment income.

To report your Stipend in TurboTax follow these steps:

Log in to your TurboTax account if it is not open.
Select the Wages & Income tab.
Scroll down to Less common income click Show more.
On the page Let's Work on Any Miscellaneous Income click on Other reportable income.
On the page Any Other Taxable Income? select yes.
On the page, Other Taxable Income enter Grant for the description and the amount.
Select continue and answer No on the next page.