DavidD66
Employee Tax Expert

Self employed

This should be reported as "Other Income".  to enter in TurboTax, while in your return:

 

  • Click on Search and Type "Other Income" in the search window, and hit "Enter"
  • Click on "Jump to Other Income"
  • Enter the information from your Form 1099-MISC, and click on Continue 
  • Enter a description such as "Prize Winnings" and click on Continue
  • On the screen with "Does one of these uncommon situations apply?", indicate "None of these apply"
  • Answer "No..." to "Did the 'Other Income' involve work that's like your main job?"
  • Answer "I got it in 2022" when asked "How often did you get income for 'Other Income'?"
  • Answer "No, it didn't involve an intent to earn money."

The amount will be reported on line 8 of Schedule 1 (Form 1040).

 

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