1099-Misc box 3 reports prizes and awards or other income not subject to self-employment tax. Perhaps your legal representation could explain why the facts and circumstances of your case result in this award being reported as taxable income.
Follow these directions to post in TurboTax Online 1099-Misc, box 3 income not subject to self-employment taxes.
- Down the left side of the screen, click Federal.
- In the center of the screen, click Income & expenses.
- On the screen Your income and expenses, scroll all the way down to the last section, Less Common Income.
- Click the Start or Update 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 or Update button for the last topic, Other reportable income.
- The next screen asks, Did you receive any other taxable income. Click Yes.
- On the next screen, Other Taxable Income, enter a description and the amount. Click Continue.
- On the next screen click Done.
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