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Deductions & credits
Enter the 1099-Misc, in TurboTax (TT). You will reach a screen "Does one of these uncommon situations apply". Check "This was prize winnings". The next screen will allow you to make an adjustment for the fair market value (FMV). Enter as a positive number. The adjustment will go on line 8z of Schedule 1 as a negative amount.
‎September 8, 2023
6:10 AM