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Shawn P Adamo
Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Finance
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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I received a dissertation grant from my school Georgetown

Customer Question

I received a dissertation grant from my school Georgetown University as well as an educational grant from another institution. They both issued me 1099-MISC. When I use the Intuit tax program it categorizes the income under Schedule C as if I own my own business. Is that the correct place to enter the money or would it be with my schooling information? If it is considered to be a business what business code would I use. Thank you!
Submitted: 7 months ago.
Category: Finance
Expert:  Shawn P Adamo replied 7 months ago.
Congrats on the grant. It is NOT a business. However the income must be recognized, so it flows to schedule C I'll offer you a call..
Customer: replied 7 months ago.
Thanks. So just checking that I wouldn't be able to write off any costs associated with the dissertation like auto or metro costs?
Expert:  Shawn P Adamo replied 7 months ago.
I would support any and all "costs". Supplies, transportation, paid interviews, etc.
Customer: replied 7 months ago.
That's good... I can prove costs associated with the dissertation for research etc. Is that coomon though and what is the code I'd use for c vs story I income falls under.. Is it the education one? Schedule C asks for a business code. I appreciate your help.
Customer: replied 7 months ago.
Sorry for all the typos. My phones wigging out.
Expert:  Shawn P Adamo replied 7 months ago.
 610000 education s/b the code...Hopefully I get a great rating.
Expert:  Shawn P Adamo replied 7 months ago.
pls ratre

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