Yes, as long as you have the payer's EIN (federal ID number) and you're certain of the exact amount of those winnings. But even then, just understand that the 1099-MISC gets reported to the IRS, so if there are discrepancies in amount or the specific box number where the amount is entered, then the IRS may inquire.
Here's how you'll enter the info in TurboTax Deluxe:
1. Click on Federal Taxes, then Wages & Income
2. Scroll down and click on Other Common Income (you may have to click on "Skip to see all income" first in order to display the various headings).
3. Then click Start next to 1099-MISC and follow the prompts. Throughout this process, TurboTax will ask you questions about the nature of the 1099 amount. When you come to the screen where you'll enter the amount, enter it in Box 3, Other Income. TurboTax will ask you to write in what this amount was for, and then you'll select a type of income from a list ("prize winnings" applies).
In the end, this income will show up on Line 21 of your 1040 with the title "Gambling Winnings" and you won't pay self-employment tax on it.
Yes
No
