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Hi, I received a scientific award in the form of cash money ($10000). Should I report this and which form should I complete?

 
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rjs
Level 15
Level 15

Hi, I received a scientific award in the form of cash money ($10000). Should I report this and which form should I complete?

Congratulations on your award. Yes, you should report the award as income. You will probably get a Form 1099-MISC reporting the award. They have until January 31 to send it to you. After you get the 1099-MISC, enter it in TurboTax. Read the questions in TurboTax carefully. Post a new question if you need help entering the 1099-MISC, or if you get a different form.

 

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