After you file
If you received a prize, then it would be taxable income even if you felt it was a gift. Keep the 1099-K in your tax file should you need it later.
Without additional information the income can be reported as follows without actually entering a 1099-K.
- Sign into your TurboTax account
- Select Tax Home > Income > Scroll to Less Common Income > Select Miscellaneous Income, 1099-A, 1099-C
- Scroll to Select Other Reportable Income
- Enter a description and amount
