1099MISC

I won a monetary cash prize from a casino promotion and received a 1099 MISC showing amount in "other income" box. TT then asks me if there is a "fair market adjustment" for this prize. Since it was cash, do I enter any figure in this block?

posted

No, you would not enter anything for a "fair market adjustment" for a cash prize.

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If I am filling out my 1099misc and had a contract with the company for 3 months before I was permanently hired what do I put for the business name and address?

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