You
should make a "good faith effort" to ascertain the Fair
Market Value (FMV) of the "game winnings" if you didn't receive a
1099-MISC nor any other correspondence from the prize company. Do you
know what a similar item may be worth? E.g., a 32" TV is about $150
at a big-box store.
You would enter the amount as Other Taxable Income which
will then show up on line 21 of your Form 1040.
To enter/edit prize money (not on a 1099-MISC):
1. Open your return (or continue if open).
2. Click on “Take me to my return” button.
3. Click on Federal tab (left-hand side of
screen).
4. Click in Wages and Income (near top of
screen)
5. Scroll down to Less Common Income.
6. Click on Start next to Miscellaneous Income.
7. Click on Other reportable income (all
the way at the bottom as you scroll down); Click “Yes”.
8. Enter “Description” and “Amount”.
Please see screenshot
below:
Yes
No
