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Should I report prize money from a foreign competition as foreign income or other miscellaneous income if I have not lived abroad?

 
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3 Replies
KarenJ
Intuit Alumni

Should I report prize money from a foreign competition as foreign income or other miscellaneous income if I have not lived abroad?

You would only need to report it as foreign income is if you paid foreign tax on the income.  If you did not pay any foreign tax on the income, then you can just report it as miscellaneous income.

borgut
New Member

Should I report prize money from a foreign competition as foreign income or other miscellaneous income if I have not lived abroad?

But where to report  this  non-taxable income?

 

MarilynG1
Employee Tax Expert

Should I report prize money from a foreign competition as foreign income or other miscellaneous income if I have not lived abroad?

Are you sure it's non-taxable income?  The IRS normally wants to tax all of your income, unless it was money you paid in some way, that was returned to you.  If you can give more details, we'll try to help.

 

Here's more detailed info on Reporting Prize Money.

 

@borgut 

 

 

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