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New Member

Prize winnings without 1099

When I follow the prompts it puts it under my wages, is that correct?
1 Reply
New Member

Prize winnings without 1099

No, that is not correct. 

If you accidently created a schedule C, you will need to delete it and the related 1099-MISC form. Follow these instructions:

  • With your return open, search for this exact phrase: sch c (include the parentheses) and then click the "Jump to" link in the search results.
  • Answer Yes when asked if you had (or want to work on) business income and expenses for 2015.
  • That's right – you'll need to answer Yes, even though it doesn't make sense.
  • When you get to the Business info or Business Summary screen, click Delete next to the defunct business.
  • Answer Yes to confirm the removal of all business-related forms.
  • In the upper right corner, click My Account > Tools.
  • In the pop-up window, select Delete a form.
  • Click Delete next to the form or schedule and follow the instructions to remove the form/schedule.
  • Delete your 1099Misc form (it may have been deleted when you deleted the Schedule C).

To enter your Prize winnings so it is not taxed as wages (self-employment income):

  • Type other taxable income in the search bar
  • Click on Jump to other taxable income
  • At the Other Wages Received screen, answer NO and continue
  • Scroll down to Other reportable income, click Start/Update
  • Click YES at Any Other Taxable Income?
  • Enter Prize Winnings, the amount and continue.
  • The amount should appear on your Form 1040, line 21.

Related informationWhat is unearned income?

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