It depends on the company. You should receive a 1099 MISC from the company but this doesn't necessarily mean you will receive one. Regardless, you should report this as income. If you don't receive a 1099 MISC, here is how to report.
- Log into your account
- Select Wages and income
- Less Common income
- Miscellaneous Income, 1099-A, 1099>start
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed.
- For the description, describe this as Bonus for opening a Retirement Account and then the amount.
To enter 1099 MISC if you receive one.
:
- Open or continue your return.
- Navigate to the 1099-MISC section:
- TurboTax Online/Mobile: Go to 1099-MISC.
- TurboTax Desktop: Search for 1099-misc and select the Jump to link.
Turbo Tax support Article
@phi650
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