MonikaK1
Expert Alumni

Get your taxes done using TurboTax

If you make a separate entry to subtract part of the winnings and don't identify the other winner, it is possible that the IRS may eventually contact you for more information. However, it is up to the other party to report the prize income on their return.

 

If this involved gambling winnings, IRS Form 5754 should have been completed at the time of the winnings.

 

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