Received 1099 NEC for a internship required for college. The 5 choices don't apply. Where can I indicate that its uncommon income?

Forum|Forum|1 year ago
April 13, 2024
1 reply
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Choices in TT are Self employment income; Farm income; Hobby; Lawsuit settlement' Medicare waiver; Income that should've been reported on W2. None of these take into account this was a graduation requirement and should not be taxable.

TurboTax Deluxe Online

Vanessa A

The fact that it was a graduation requirement and you received income does not affect the taxability of the income. Since you were paid for your work, it is taxable income.

The taxability of the income is affected by how the person paying you treated you, whether it was as an employee or as a subcontractor. Since they sent you a 1099-NEC, it seems they chose to treat you as a subcontractor. This means you would be subject to SE taxes . If you should have been an employee instead, then you would select income should have been reported on a W2.

Independent contractor (self-employed) or employee?

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