It's common that employers issue a 1099-MISC for awards. This way no employment taxes are withheld.
You can
enter the 1099-MISC in TurboTax as "Other Common Income," which
is reported on line 21 of the 1040 and will not generate SE tax.
Please use the following steps:
- Click on Federal Taxes >
Wages & Income. [In TT Self-Employed: Personal
> Personal Income > I'll choose what I work on.]
- Scroll down to the Other Common
Income section.
- Click on the Start/Revisit
box next Form 1099-MISC. [See Screenshot #1, below.]
- On the screen Did you get a
1099-MISC? click on the Yes button. [Screenshot #2]
- On the next screen, Let's get
the info from your 1099-MISC, enter the information from the
1099-MISC.
[Screenshot #3]
- On the following screens, answer
the following questions:
- Did it involve work that's like
your main job? No.
- You got it in 2016
-
No, it didn't involve an
intent to earn money
7. Continue through the rest of the interview screens. The income will appear
on line 21 of form 1040 (Other Income).
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