The Unofficial SMART Scholarship Forum

Has anyone received their 1099 from SMART yet?

We were notified they were shipping 1/31/2018, so this Wednesday. Not sure how slow the delivery will be.

scheffc wrote:We were notified they were shipping 1/31/2018, so this Wednesday. Not sure how slow the delivery will be.

Was an email sent?

Has anyone received their 1099 yet?

Just got it today. Anyone else who got their 1099 have income reported in box 3 or 7?

PhdSMART wrote:Just got it today. Anyone else who got their 1099 have income reported in box 3 or 7?

Think on the bright side of it being considered self employment. Deductions, deductions, DEDUCTIONS! School supplies, travel related to SMART, a car for school, gas to get to school, that desk you bought to do homework, the laptop you bought to do schoolwork. If they’re paying us to go to school then we can deduct expenses related to that job. If you get a good accountant and have, like me, paid a lot of money on school supplies then you may owe a lot less than if it were just taxed income.

CSMajor wrote:

PhdSMART wrote:Just got it today. Anyone else who got their 1099 have income reported in box 3 or 7?

Think on the bright side of it being considered self employment. Deductions, deductions, DEDUCTIONS! School supplies, travel related to SMART, a car for school, gas to get to school, that desk you bought to do homework, the laptop you bought to do schoolwork. If they’re paying us to go to school then we can deduct expenses related to that job. If you get a good accountant and have, like me, paid a lot of money on school supplies then you may owe a lot less than if it were just taxed income.

However, if they marked box 3 it would not be subject to self-employment tax since per the tax memo we are not self-employed. Scrolling through this forum I believe previous years they marked box 3.

The total amount is in box 7 of the 1099 that I received.

UNM_EE wrote:The total amount is in box 7 of the 1099 that I received.

That’s actually correct. It is supposed to be in box 7. I hate to burst your bubbles but the stipend is heavily taxed.

Can anyone explain how we are an independent contractor who is not self employed and our scholarship is not in exchange for work? Yet if it's in line 7 we are supposed to pay self employed taxes?

Here's the explanation for Box 3 vs Box 7. The most important designation, and something extremely clear in our paperwork is that this scholarship is not in exchange for work. So again I just don't understand why is it on line 7?

https://imgur.com/a/Tw7RQ

Anyone else still not receive their 1099? It's now near the end of February and I haven't seen anything from ASEE.

I never received mine either. I followed up with LMI and they gave me this email address to ask ASEE what happened: addresschange@asee.org
I just asked for an electronic copy and they attached one.

ASEE just emailed me an electronic copy of my 1099- MISC if anyone else is still waiting on theirs. I just emailed < addresschange@asee.org> and received prompt response.