Where does one report service free stipends (taxes not withheld) in Turbo tax? I have read form 1040 – Line 1 and enter “SCH”. How does one do that with Turbo tax?
Where does one report service free stipends (taxes not withheld) in Turbo tax? I have read form 1040 – Line 1 and enter “SCH”. How does one do that with Turbo tax?
To enter your service free stipend, select the following
Income
Show More next to Less Common Income
Start next to Misc Income
Start next to Other Reportable Income
Enter the income as Other Taxable Income with a description of Taxable Stipend t
This will enter the income on line z of her Schedule 1 with a description which will then flow to line 8 of the 1040. It will be taxed as ordinary income instead of self-employed income.
If this was related to education, you would enter it in the education section by selecting the following: