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Level 1
June 3, 2020
Question

Is a $300 stipend for teaching a class to senior citizens at a university taxable if a 1099misc is not issued?

  • June 3, 2020
  • 2 replies
  • 14 views
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2 replies

sjrcpa
Level 15
June 3, 2020

Yes. All income from whatever source derived is taxable unless there is a statutory exclusion. Lack of a 1099 doesn't matter.

The more I know the more I don’t know.
IRonMaN
Level 15
June 3, 2020

Hopefully the class being taught wasn’t “How to Prepare Income Tax Returns” 😬

Slava Ukraini!