- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
So you will be reporting this prize on your 2017 tax return next year if the prize was received in 2017. The fair market value of the vehicle can be used and reported on Form 1040 Line 21 as Miscellaneous Income.
You can get the FMV from websites such as Edmunds or NADA
You can get the FMV from websites such as Edmunds or NADA
‎June 6, 2019
3:15 AM