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February 15, 2022
Question

I won a Bike worth $1800. I received a 1099-misc. How do

  • February 15, 2022
  • 1 reply
  • 0 views
How do I report a prize on my taxes?

1 reply

ColeenD3
February 15, 2022

To enter your 1099-Misc for your prize, follow the steps below.

 

To enter a 1099-MISC for miscellaneous income in TurboTax:

  1. Open or continue your return
  2. Search for 1099-misc and select the Jump-to link
  3. Answer Yes to Did you get a 1099-MISC?
    • If you already entered a 1099-MISC, you'll be on the 1099-MISC Summary screen, in which case you'll select Add Another 1099-MISC
    • If you need to edit or delete a previously entered 1099-MISC, select the appropriate button
  4. Enter the info from your form into the corresponding boxes
    • If you need to enter boxes 4–6 or 8–17, check My form has other info in boxes 1–17 to expand the form

Boxes 1 and 2 missing from your 1099-MISC screen? Go back to the main 1099-MISC screen using the steps above.