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March 21, 2024
Question

Do I have to enter a 1099-MISC for a school scholarship?

  • March 21, 2024
  • 2 replies
  • 0 views
My federal refund went down a significant amount after entering my 1099-MISC from school. Not sure if I did something wrong or if this considered normal.

2 replies

Employee
March 21, 2024

Scholarships are not reported on a 1099-MISC. Tell us more about it. 

DawnC
Employee
March 21, 2024

Yes, you have to enter 1099-misc forms you received on your tax return.   Normally, scholarships are reported on form 1098-T.   Did you also receive a tuition statement, 1098-T?   What box was the income in, on form 1099-misc?    

 

There are follow-up questions after you enter the form to determine whether the income is ordinary income or self-employment income, and how the income is taxed depends on how you answer those questions.    What kind of income did you receive and did you do work for it?    If the income is self-employment, there is self-employment tax added, and you need Schedule C.

 

If the income is not self-employment, it is ordinary income taxed at ordinary income rates and no Schedule C is required.   You may want to delete and re-enter, paying close attention to the follow-up questions.   For this income, if you did work like your main job, had an intent to earn money or receive the income in multiple years, TurboTax will classify it as self-employment, apply SE tax and prepare Schedule C.  

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