Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Serendipity1
New Member

Hi! I've just won a new phone worth $1300. How much taxes will I have to pay if I live in CA and unemployed? Also, how do i go about filing it. Thanks in advance.

I haven't received my prize, an affidavit, or the 1099 form yet.

2 Replies
Hal_Al
Level 15

Hi! I've just won a new phone worth $1300. How much taxes will I have to pay if I live in CA and unemployed? Also, how do i go about filing it. Thanks in advance.

If you won a prize in 2019, you will not receive a form 1099-Misc until January 2020. You will use that to report the income. It will be taxed at your marginal income tax rate; probably 10% federal and 2% CA
Serendipity1
New Member

Hi! I've just won a new phone worth $1300. How much taxes will I have to pay if I live in CA and unemployed? Also, how do i go about filing it. Thanks in advance.

Does this mean if the 1099 comes in early, I should keep it safe since I can't file until next year?

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~