Even though the IRS instructions for Form 1099-NEC state that taxable scholarships should be reported on Form W-2, you can still report this income using the form you do have. Open your return and go to Federal >> Wages & Income >> Other Common Income >> Income from Form 1099-NEC. Click Start/Update. Or enter 1099-nec in the Search box located in the upper right of the program screen. Click on Jump to 1099-nec. On the screen Did you get a 1099-NEC?, click on Yes. On the screen Do You Want to Enter Your 1099-NECs Now?, click on Add a 1099-NEC. On the screen Let's get the info from your 1099-NEC, enter your information and click Continue. On the screen Describe the reason for this 1099-NEC, enter a reason and click Continue. On the screen Does one of these uncommon situations apply? Select This is not money earned as an employee or self-employed individual, it is from a sporadic activity or hobby and click Continue. These entries will report the income on Schedule 1 Line 8z Other Income. The total from Schedule 1 Line 10 flows to Form 1040 Line 8 as ordinary income.

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Hi, I received a 1099-NEC for a scholarship I received. Researching online It appears this is the wrong tax form. Any advice?

Forum|Forum|2 years ago
January 29, 2024
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Best answer by PatriciaV

Even though the IRS instructions for Form 1099-NEC state that taxable scholarships should be reported on Form W-2, you can still report this income using the form you do have.

Open your return and go to Federal >> Wages & Income >> Other Common Income >> Income from Form 1099-NEC. Click Start/Update.

Or enter 1099-nec in the Search box located in the upper right of the program screen. Click on Jump to 1099-nec.

On the screen Did you get a 1099-NEC?, click on Yes.
On the screen Do You Want to Enter Your 1099-NECs Now?, click on Add a 1099-NEC.
On the screen Let's get the info from your 1099-NEC, enter your information and click Continue.
On the screen Describe the reason for this 1099-NEC, enter a reason and click Continue.
On the screen Does one of these uncommon situations apply? Select This is not money earned as an employee or self-employed individual, it is from a sporadic activity or hobby and click Continue.

These entries will report the income on Schedule 1 Line 8z Other Income. The total from Schedule 1 Line 10 flows to Form 1040 Line 8 as ordinary income.

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Deal with it as if it were the correct form.

PatriciaVAnswer

Even though the IRS instructions for Form 1099-NEC state that taxable scholarships should be reported on Form W-2, you can still report this income using the form you do have.

Open your return and go to Federal >> Wages & Income >> Other Common Income >> Income from Form 1099-NEC. Click Start/Update.

Or enter 1099-nec in the Search box located in the upper right of the program screen. Click on Jump to 1099-nec.

On the screen Did you get a 1099-NEC?, click on Yes.
On the screen Do You Want to Enter Your 1099-NECs Now?, click on Add a 1099-NEC.
On the screen Let's get the info from your 1099-NEC, enter your information and click Continue.
On the screen Describe the reason for this 1099-NEC, enter a reason and click Continue.
On the screen Does one of these uncommon situations apply? Select This is not money earned as an employee or self-employed individual, it is from a sporadic activity or hobby and click Continue.

These entries will report the income on Schedule 1 Line 8z Other Income. The total from Schedule 1 Line 10 flows to Form 1040 Line 8 as ordinary income.

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