If your honorarium income is reported on a 1099-MISC (most accumulated honoraria payments of $600 or more are reported this way), you will report your income under the Income section under 1099-MISC. However, if your honorarium income is not reported on a form, you will enter that income as “other income.
To enter your honorarium income under 1099-MISC, please follow these steps:
- Select Federal from the side menu
- Select Income
- Select 1099-MISC and enter the information about your income.
To enter your honorarium income as “Other Income” please follow these steps:
- Select Federal from the side menu
- Select Income
- Select Less Common Income from the bottom of the list of income
- Select Other Income Not Reported Elsewhere, Enter the information regarding your honorarium income here. In the “Other Income Description” dropdown, select “Other Income” then enter Honorarium under the description of income.
What is honorarium income?
Honorarium income is usually income a person receives as payment for services where custom or propriety forbids a price to be set. These payments can be for things such as compensation you receive as a guest speaker or lecturer as a “thank-you” and may be considered a gesture of good will or appreciation.
Because of the nature of the honorarium, the amount to be paid is not an agreed upon amount between the person providing services and the individual whom the services are provided. If there is an agreed upon amount, this would constitute a contractual agreement and the income would no longer be considered honorarium.
For more information on honorarium income, you can visit the IRS website here.