- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I enter Daily Fantasy Sports winnings using TurboTax online?
My profit was under $600, so I didn't get 1099-MISC and I'm doing standard deduction. I have two questions:
1. If my total winnings were $200 and I paid about $120 in total for entry fees. Should I report $80 (net profit) or $200 (total winnings)? Again, I'm doing standard deduction.
2. Where should I put it? I think it has to be on Schedule1 as "Other Income", but how do I navigate in TurboTax (Online) specifically, to enter my winnings? Less Common Income -> Miscellaneous Income -> Other reportable income?
1. If my total winnings were $200 and I paid about $120 in total for entry fees. Should I report $80 (net profit) or $200 (total winnings)? Again, I'm doing standard deduction.
2. Where should I put it? I think it has to be on Schedule1 as "Other Income", but how do I navigate in TurboTax (Online) specifically, to enter my winnings? Less Common Income -> Miscellaneous Income -> Other reportable income?
Topics:
March 30, 2021
5:00 AM