The Unofficial SMART Scholarship Forum

Posted: **Mon Feb 12, 2018 2:10 pm**

Has anyone tried to contact ASEE for changing the 1099 MISC from box 7 to box 3 for 2017 tax return?

Posted: **Mon Feb 12, 2018 3:18 pm**

I got a email stating that:

"...Thank you for your email. We are currently looking into this issue and I will follow up with you as soon as I hear something.

V/R,
"

Posted: **Mon Feb 12, 2018 3:57 pm**

Thought about it - but now I won't! Let me know when they get back to you.

Posted: **Mon Feb 12, 2018 4:27 pm**

waffertike wrote:I got a email stating that:

"...Thank you for your email. We are currently looking into this issue and I will follow up with you as soon as I hear something.

V/R,
"

Hey waffertlike, who did you contact?

Posted: **Tue Feb 13, 2018 1:16 pm**

I called a TurboTax “expert” and she told me to call LMI and request them send a 1089-T and deem the fellowship as an educational income/scholarship. Has anyone tried this?

Posted: **Tue Feb 13, 2018 2:04 pm**

I tried e-mailing some random person at ASEE (I wasn't sure if they're watching the old smart e-mail account anymore). I got no response.

Posted: **Tue Feb 13, 2018 3:30 pm**

argentum2f wrote:I tried e-mailing some random person at ASEE (I wasn't sure if they're watching the old smart e-mail account anymore). I got no response.

A CPA charges ~100-125 to file taxes for you. They know all the tax laws and how to file the scholarship. I went to a CPA and I already paid my taxes and don’t have to worry about it until quarterly payments start. They saved me from trouble with the IRS and from having to pay self employment tax. It’s worth paying a little extra.

Posted: **Tue Feb 13, 2018 7:45 pm**

GoToACPA wrote:
argentum2f wrote:I tried e-mailing some random person at ASEE (I wasn't sure if they're watching the old smart e-mail account anymore). I got no response.
A CPA charges ~100-125 to file taxes for you. They know all the tax laws and how to file the scholarship. I went to a CPA and I already paid my taxes and don’t have to worry about it until quarterly payments start. They saved me from trouble with the IRS and from having to pay self employment tax. It’s worth paying a little extra.

I second this. Using the 1099 as is, my CPA had already filed my taxes and I didn’t have to pay self employment tax.

Posted: **Wed Feb 14, 2018 11:28 am**

I sent a comprehensive email addressing all of the issues I have seen throughout the forum. They said they would get back to me.

Posted: **Thu Feb 15, 2018 1:17 pm**

SMART just sent me this email

This is the response I have received on this matter. “The SMART Program and LMI cannot provide tax advice. Please direct your question to ASEE at addresschange@asee.org.”

Posted: **Thu Feb 15, 2018 7:35 pm**

GoToACPA wrote:
A CPA charges ~100-125 to file taxes for you. They know all the tax laws and how to file the scholarship. I went to a CPA and I already paid my taxes and don’t have to worry about it until quarterly payments start. They saved me from trouble with the IRS and from having to pay self employment tax. It’s worth paying a little extra.

CPAalltheway wrote:
I second this. Using the 1099 as is, my CPA had already filed my taxes and I didn’t have to pay self employment tax.

Would someone who went to a CPA mind looking at a copy of the return they put together and see how the filed it?

Specifically, what line of what form did they put the income on, and is there a Schedule C attached?

Posted: **Thu Feb 15, 2018 7:52 pm**

For my tax return:
On the 1040, the scholarship was put on line 21, other income. There was no schedule C attached.

Posted: **Fri Feb 16, 2018 2:02 pm**

taxes wrote:For my tax return:
On the 1040, the scholarship was put on line 21, other income. There was no schedule C attached.

Ok, thanks. Good to know. I may go ahead pay someone to do my taxes for once as well.

Back to the OP, I did finally get this reply:

Hello,

Thank you for contacting us.

ASEE made the decision to place all fellowship stipend payments in box 7 based on IRS instructions on identifying the payee relationship, the preparation of the 1099 MISC forms and reporting of various income types, as well as the IRS regulations of handling payments for scholarships, fellowships and other grants. There will be no further advice given in this manner. ASEE cannot provide tax advice so we urge you to seek advice from a tax professional.

Jessalyn

Jessalyn Vermillion, CPA
Controller
American Society for Engineering Education
202.331.3540
Inspiring Innovation. Advancing Research. Enhancing Education.
http://www.asee.org

The Unofficial SMART Scholarship Forum

Anyone tried to contact ASEE for changing 1099 box 7 to 3?

Anyone tried to contact ASEE for changing 1099 box 7 to 3?

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