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On the Money
1099-misc and Turbotax
May 29, 2012, 05:01:01 AM
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Topic: 1099-misc and Turbotax (Read 5842 times)
swtrixie
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1099-misc and Turbotax
«
on:
February 16, 2008, 03:47:47 PM »
I served on a Faculty Association committee last year and was paid a stipend through the Faculty Association. I received a 1099-MISC with the amount of $2232.00 in box 7. Non-employee compensation.
No taxes were withheld.
I am trying to enter this on Turbotax and I am confused with the choices:
a.Consulting, freelancing, contract work, side jobs, your business
b.Farming (sales of livestock or crops)
c.Income that should be considered wages, bonus, severence pay, benefits from an employer not reported on a W-2.
Obviously it's not c. But can anyone tell me if it's a or b?
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voxprincipalis
Foxaliciously Cinnamon-Scented (and Most Poetic)
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Posts: 17,442
Has potentially infinite removable wallets
Re: 1099-misc and Turbotax
«
Reply #1 on:
February 16, 2008, 04:17:28 PM »
???
Did you mean to write, "Obviously it's not B, but can anyone tell me if it's A or C?"
VP
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If you need me, I'll be hiding under a rock until mid-August. Try not to need me, unless you come bearing Chinese food.
swtrixie
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Posts: 2,935
Re: 1099-misc and Turbotax
«
Reply #2 on:
February 16, 2008, 04:20:48 PM »
yes you are right...obviously not b.
Doing my taxes and SO's taxes on Turbotax are giving me a migraine.
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aandsdean
I feel affirmed that I'm truly a 6,000+ post
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Re: 1099-misc and Turbotax
«
Reply #3 on:
February 16, 2008, 04:29:42 PM »
It's A, consulting, even though you did it for your employer.
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swtrixie
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Re: 1099-misc and Turbotax
«
Reply #4 on:
February 16, 2008, 04:50:21 PM »
Quote from: aandsdean on February 16, 2008, 04:29:42 PM
It's A, consulting, even though you did it for your employer.
I closed my eyes and chose one at random and A was the lucky winner. I'm glad you posted your response, now I feel better.
asked and answered.
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big_giant_head
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Re: 1099-misc and Turbotax
«
Reply #5 on:
February 19, 2008, 02:04:37 PM »
Yes, it's A. I had one of those for a couple of years because of an RA position that got funded from some strange organization.
It was annoying to have to file a grown-up 1040 even though I only made about $15k as a TA.
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carthago can haz delenda
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