Yes, award payments are taxable and this is how to report the payments received.. After reporting this as income, you will enter the quarterly tax payments that Vanessa A has outlined above. To report your income:
- Go to federal>income and expenses>all income>>show more
- Less Common Income> Start
- Miscellaneous Income,>start
- Other reportable income>start
- Next screen asks Any Other Taxable Income>yes
- The next screen will allow you to report the income with a brief explanation.
- Here you can report this is ORISE Award Received Then the amount of the the award.
@it_carola
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