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Old 03-05-2015, 02:32 PM
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Stipend received for hosting International Student

Last year we hosted an international student in our home were we were given a stipend of $6000 to be used for board, transportation and food. We received a 1099-misc from the school that the student attended . My question is what schedule do we use to include this income Minus expenses when we file the 1040.

Thank-you,

CJones



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Old 03-05-2015, 07:48 PM
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Quote:
Originally Posted by ctjroswell View Post
Last year we hosted an international student in our home were we were given a stipend of $6000 to be used for board, transportation and food. We received a 1099-misc from the school that the student attended . My question is what schedule do we use to include this income Minus expenses when we file the 1040.

Thank-you,

CJones
you need to report it on sch c of 1040;as you said, you can deduct all qualified expenses in connection with this activity.aslongas the amount on sch c line 29 / 31 is $400 or exceeds $400, you need to file return and pay self employment tax on sch se aslongas the amount on sch se line 2 / 3 is $400 or exceeds $400. If providing a food for the student was part of your hosting contract - purchase expenses are your qualified business expenses deductible on sch c.



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Old 03-05-2015, 08:30 PM
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Expenses Schedule C

Thank-you for the advice! Looking at Form 1040 schedule C were specificaaly would I enter specific expenses such as internet, food etc. for international student stipend expenses.
Thank-you



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Old 03-05-2015, 08:59 PM
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Originally Posted by ctjroswell View Post
Thank-you for the advice! Looking at Form 1040 schedule C were specificaaly would I enter specific expenses such as internet, food etc. for international student stipend expenses.
Thank-you
i guess yu mayreport food for the student as other expenses on line 27aand report internet as utilities Telephone costs are Utilities, you can put Internet costs there also on line 25 .You may also deduct portion of electricity bill on line 25.



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