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    bchandra's Avatar
    bchandra Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 6, 2008, 09:04 PM
    1099-MISC for an award/scholarship
    Hi List,

    I'm a Resident Alien who received a 1099-MISC this year as I won a scholarship of 10,000. I did use part of this money on dissertation-related expenses. I was wondering if I'm eligible for some kind of tax benefit- or whether the entire amount will be reported as other income.

    Thanks in advance,

    B
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 7, 2008, 01:54 AM
    It appears that you received $10,000 as non-employee compensation. If yes, this income is reported on Schedule C (Form 1040). You can deduct your related expenses. On the net income you will pay SE tax at 15.3%.

    How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 or 1099: Employee or Independent Contractor.
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