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Fantasy Sports 1099
I will be winning a 1099 from a daily fantasy site this year for about $5,000.
this is not a business for me.
on what sub letter of other income would I report this.
Gambling, Prizes, or Other Other
i want to make sure the AUR program doesn’t file this as a mismatch
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In TurboTax, enter the figure under Prizes, Awards, and Gambling Winnings.
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Prizes and Gambling are two seperate lines on schedule 1..
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Is there any problem reporting a 1099 on gambling? I wasn’t sure if the AUR would not be able to match because it typically wouldn’t look for A 1099 on that line
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There should not be but even if there is, the transaction should be reported appropriately.
If there is a mismatch, and a letter is generated, that would easily be dealt with by a response showing the income was from gambling.