Prizes are reported on the 1099-MISC in box 3, other income. The fair market value of a noncash prize is taxable income. 

To enter the 1099-MISC for the prize:

• Continue your return in TurboTax. (If your return isn't open, you'll need to sign in and click Take me to my return.)
• Click My Account (top right of your screen).
• Click Tools.
• Click Topic Search.
• In the search bar, type prizes.
• In the results box, highlight prizes and click Go.
• Follow the onscreen instructions. After you enter the 1099-MISC information and continue through the interview, you'll be able to indicate that the form was for prize winnings. (Click the screenshot below to enlarge it for reference.)