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Do I need to report game show winnings less than $600 if I did not receive a 1099-MISC form? If so, where do I report this and how?

 
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4 Replies
rjs
Level 15
Level 15

Do I need to report game show winnings less than $600 if I did not receive a 1099-MISC form? If so, where do I report this and how?

You have to report all your income, no matter how little it is, whether or not you get a reporting form. You can report the winnings as "other income" on Schedule 1 line 8 with a description that you enter.


In the Search box in TurboTax type "lawsuit settlement" (without the quotes), then click the link that says "Jump to lawsuit settlement." I know that's not what you have, but it's the only search term I could find that gets you to the right place.


The first screen asks, "Any Other Taxable Income?" Click Yes.


On the next screen, "Other Taxable Income," enter a description such as "Game show prize" and enter the amount. Click Continue.


On the next screen click Done.

 

Do I need to report game show winnings less than $600 if I did not receive a 1099-MISC form? If so, where do I report this and how?

Question, if I have game show winnings (a trip) and due to covid we did not take the trip do I still have to report as income?  

Vanessa A
Expert Alumni

Do I need to report game show winnings less than $600 if I did not receive a 1099-MISC form? If so, where do I report this and how?

No, if you did not take the trip you do not have to report it.  If you take the trip in the future, you will need to report it as income even if you do not receive a 1099.

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Do I need to report game show winnings less than $600 if I did not receive a 1099-MISC form? If so, where do I report this and how?

You should always report any income that you receive. If you win a game show , you will receive a 1099-MISC form if the winnings are $600 or more. If the winnings are less than $600, you will not receive a 1099-MISC form, but you will still need to report the income on your tax return. You will report the income on Schedule C (Profit or Loss from Business) or Schedule E (Supplemental Income and Loss).

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