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If it's like most prizes and awards, it will go on Line 21 (Other income) of your Form 1040. Most prizes over $600 are reported on a 1099-MISC form. If you have any other details regarding this question, please feel free to post them in the comment section.
Since you didn't receive a 1099-MISC, you can report other income simply by following the instructions below:
1. Sign into your TurboTax account.
2. Click Pick up where I left off (if not already open)
3. Click Federal tab
4. Click Wages & Income subcategory.
5. Select I'll choose what I work on option.
6. Scroll all the way down to the Miscellaneous Income, 1099-A, 1099-C (under less common income) and click Start/Update.
7. Click Start/Update next to Other income not already reported on a Form W-2 or Form 1099 and follow the online screen prompts to enter your income.
If it's like most prizes and awards, it will go on Line 21 (Other income) of your Form 1040. Most prizes over $600 are reported on a 1099-MISC form. If you have any other details regarding this question, please feel free to post them in the comment section.
Since you didn't receive a 1099-MISC, you can report other income simply by following the instructions below:
1. Sign into your TurboTax account.
2. Click Pick up where I left off (if not already open)
3. Click Federal tab
4. Click Wages & Income subcategory.
5. Select I'll choose what I work on option.
6. Scroll all the way down to the Miscellaneous Income, 1099-A, 1099-C (under less common income) and click Start/Update.
7. Click Start/Update next to Other income not already reported on a Form W-2 or Form 1099 and follow the online screen prompts to enter your income.
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