You can enter the amount as Other income not already reported on a Form W-2 or Form 1099 (even though its on a 1099 you have not reporting it that way)
- In TurboTax Online click on Federal on the left column
- Click on Wages & Income at the top
- Scroll down to Miscellaneous Income, 1099-A, 1099-C. Start
- Choose Other income not already reported on Form W-2 or Form 1099
- Say Yes to Did you receive any other wages?
- Continue to Any Other Earned Income? Say Yes.
- On Enter Source of Other Earned Income chose Other
- Enter a description and amount. For description you can enter cash award or 1099 from XYC to show the IRS you are reporting the 1099.
The IRS says: Bonuses or awards you receive for outstanding work are included in your income and should be shown on your Form W-2. These include prizes such as vacation trips for meeting sales goals. If the prize or award you receive is goods or services, you must include the FMV of the goods or services in your income. However, if your employer merely promises to pay you a bonus or award at some future time, it isn’t taxable until you receive it or it’s made available to you.
Refer to Bonuses and Awards in Taxable and Nontaxable Income
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
