I won $1,000 worth of points from a sweepstakes ran by Hello World sponsored by Samsung. Both Samsung and Hello World each sent me a 1099-MISC for $1,000 which makes it look like I got $2,000 in total. I have contacted Hello World who told me to only file my taxes with their 1099 and that Samsung would send a corrected 1099. I never received a corrected 1099 from Samsung. Should I pretend I didn't get a 1099 from Samsung and only file the 1099 from Hello World? Or should I report both 1099 and mark Samsung's 1099 as $0? Or should I report both 1099 and somehow indicate somewhere that Samsung's 1099 is $0?
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Just to save hassles later I would enter both and do a "reversing entry" for the incorrect 1099 by making a third Sch 1 line 8 simply negating the incorrect amount ...
Reporting this in TurboTax will be a two-step process, first to include the 1099-MISC as income and then to make a negative adjustment to remove it.
To include the 1099-MISC as a part of your tax return, follow these steps:
Now the income shown on the Form 1099-MISC has been added to your return. Next, it will be “removed” from the return.
Follow these steps:
When you see your Form 1040 Schedule 1, the amount shown on the Form 1099-MISC will be reported twice on line 8 – once as a positive amount and once as a negative amount.
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