I am a student in a non-compensatory role who receives a stipend categorized under a 1099-MISC every year. When I put it into the software, it notes that I have an excess Roth IRA contribution this year due to the 1099-MISC not counting as "earned income". Is that correct? A few sources online I've seen note that since…
Hello! Last year, I completed a degree-required educational internship in which I received stipends to reimburse my educational expenses. I received a 1099-MISC that reports that total reimbursement amount in Box 3, "other income," and again in Box 18, "State income." Since that amount was an educational reimbursement, how…
For reference, the total allocated amount was $2,700. The instructions are “The parties agree that 50% of individual settlement amounts are for alleged unpaid wages, and subject to payroll taxes to be reported on an IRS W-2 and 50% shall be allocated as penalties and interest and will be reported on IRS Form 1099.…
Hello, please note I am going to start the post with assumptions being made to avoid the discussion of issues not at hand: Regardless of your personal or professional opinion, filing both as an amateur or professional gambler will allow deducting all wagers made versus the wins regardless of if it is a land based, normal…
I received a 1099-MISC from an insurance company for a ERISA Settlement claim. The payments under the plan were tax free, and the settlement is as well. However, I received a 1099-MISC from the insurance company. How do I input this into Free Tax USA so there isn't a discrepancy with the IRS
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