Stipend - How to Report
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In order to determine how and where to report stipend income, you must first determine the nature of the stipend income.

The IRS explains that your stipend may be reported on Form W-2 or Form 1099-MISC. You are responsible for determining whether you were paid as an employee or independent contractor and whether or not the income is subject to self-employment taxes.

If you receive a Form W-2, enter it as a Form W-2 in the TaxAct program. If you receive a Form 1099-MISC, enter it as a Form 1099-MISC. If you receive a Form 1098-T, with a Box 5 stipend as a scholarship or fellowship, enter it as a Form 1098-T.


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