I received an IDA (individual development account) matched-saving grant of $3000 from a non-government organization for a $600 I put in saving account. The website stated that the grant is considered a nontaxable gift "The match money is considered a gift at the time it is paid out to purchase the eligible asset. It is NOT taxable income to the Participant.". I received a 1099-MISC form with the $3000 reported in box 3 "other income". When I put the 1099-MISC information in TurboTax, there was no place to indicate this was a non-taxable gift and therefore had my expected refund amount reduced by a lot. Is there a place where I can indicate this as being nontaxable or am I not supposed to report the amount if I know it's not taxable?
