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How do I report a gift card that is taxable when filing for taxes?

I received a $100 gift card from company as a reward, and the letter mentions that I'm responsible for the tax portion of it. How can I report it in Turbotax? 

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1 Reply
Rachel_W
Expert Alumni

How do I report a gift card that is taxable when filing for taxes?

You can include the value of the gift card as "Other Income" on your Tax Return by following these steps:

  • Sign In to TurboTax Online
  • Click "Take Me to my Return"
  • Click "Federal" from the left side of your screen
  • Scroll down to "Less Common Income" and click "Show More"
  • Click "Start" to the right of Form 1099-A, 1099-C
  • Scroll down to "Other Reportable Income" and click "Start"
  • On the Any Other Taxable Income? screen, click Yes
  • On the Other Taxable Income screen, add a description and the dollar amount 
  • Continue with the onscreen interview until complete
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