In TurboTax CD/Download Premier to report a 1099-MISC as prize income, follow these steps to enter the income:
- Click on Federal Taxes.
- Click on Wages & Income.
- Click on I'll choose what I work on.
- Scroll down to 1099-MISC and Other Common Income.
- Click Start / Update to the right of Income from Form 1099-MISC.
- At the screen Does one of these uncommon situations apply?, select This was prize winnings.
The entry will be reported:
- on line 8i of Schedule 1 of the Federal 1040 tax return, and
- on line 8 of the Federal 1040 tax return.
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