1099-misc

[HouseofWool]

I have never received a 1099-MISC before and have a question about it. So, when I went on the trip to Brazil this summer, I was paid a stipend and reimbursed for all of my expenses. The 1099 has all of the money they paid me listed in box 7, not just the stipend. This more than DOUBLES the amount of money and I am concerned that it will skew my taxes.

Does anyone know how I handle this? Only 40% of the money listed was actually income...

[Vanquisher]

That's not right.

[GrayMatterWife]

Contact them. If it's a mistake, they can issue you an amended or corrected 1099-MISC.

[SuzySunshine]

Do you itemize or take the standard deduction? Because I think this is your answer:

http://www.justanswer.com/tax/38q6x-...yees-meet.html

But you'll have to itemize what they reimbursed you for it to even out.

[HouseofWool]

I just ran it through Turbo Tax, and it allows me to deduct the expenses portion of what I was paid.

The big suck fest? The $500 stipend reduced my tax return by about $250.

[JDAZ11]

Our 1099 incomes did serious damage to our refund too. I'm annoyed.