My child received 1099-MISC for winning chess tournaments, ~$2000, Is it earned income or unearned income? Thanks!

Mickyly · ‎June 6, 2019

BurakG · ‎June 6, 2019

Is the amount reported on box 7 or box 3?

Mickyly · ‎June 6, 2019

box 3

Mikki · ‎June 6, 2019

Box 3 is prize money . Unearned income. Go through the 1099 Misc flow.

Mickyly · ‎June 6, 2019

but when I got to child income, no price money option

BurakG · ‎June 6, 2019

It is reported as other income and it is unearned income. This income will not be subject to Social Security and Medicare taxes.

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