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1099-MISC, Independent Contractors, and Self-Employed

Question: I received an AmeriCorps Education Award and have received an income statement. Are these payments taxable?

Answer:

Yes. AmeriCorps Education Awards are taxable in the year they are paid. If you receive an award, you should receive a Form 1099-MISC (PDF), Miscellaneous Income, if the payment was $600 or more during the year.  The 1099-MISC will show the amount of the award in box 3, Other Income, with no withholding.  Report the amount on the line "Other income" on Form 1040 (PDF).

Visit the AmeriCorps website for more information on the Segal AmeriCorps Education Award programs.

Additional Information:


Category: Interest, Dividends, Other Types of Income
Subcategory: 1099 MISC, Independent Contractors, and Self Employed

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
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