You can report it as "other income" on Schedule 1 line 8z with a description that you enter. Here's how to enter it in desktop TurboTax.
- Click the Federal Taxes tab, then click Wages & Income. (In TurboTax Home & Business click the Personal Tab, then click Personal Income.)
- Click "I'll choose what I work on."
- On the screen "Your 2024 Income Summary," scroll all the way down to the last section, "Less Common Income." Click the Start button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."
- On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start button for the last topic, "Other reportable income."
- The next screen asks, "Any Other Taxable Income?" Click Yes.
- On the next screen, "Other Taxable Income," enter a short description and enter the amount. Click Continue.
- On the next screen click Done.
