No, report the "Earn" program rewards as other income. You will need to convert your rewards to US dollars if they have not been issued as U.S. dollars. Here is how to enter your rewards in TurboTax as other income:
- Select Federal from the left side menu.
- Click on Wages & Income.
- Scroll down to Other Common Income. Click Show more.
- Click Start / Revisit to the right of 1099-MISC.
- Click Start / Revisit to the right of Other reportable income.
- At the screen Does one of these uncommon situations apply, select None of these apply.
- At the screen Did the xxx involve work that's like your main job, select No.....
- At the screen Did the xxx involve an intent to earn money, select No....
The entries will be reported:
- on line 8z of Schedule 1 of the Federal 1040 tax return, and
- on line 8 of the Federal 1040 tax return.
View the entries at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.
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