KristinaK
Employee Tax Expert

Get your taxes done using TurboTax

Form 1099-MISC would have been issued to you if the value of the "award" was at least $600. This way, no form required. 

 

All income must be reported on your federal and state tax returns. This type of income is considered Other Income. My suggestion is to run a "mock" amend return in TurboTax and see if entering the amount affects your bottom line. If yes, continue with filing your amended returns. If not, there is no need to file them. 

Remember, whatever you report as income on your return will be your basis in the stock. When the stock is sold, use that to report cost/basis. If you are not reporting this amount as income, then your basis is zero. 

 

How do I cancel or undo my amended return?

Where do I enter 1099-MISC? (the steps are pretty much the same to report this income without the form). 
 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post