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MPAdam22
Returning Member

Question on 1099-MISC

Hello. My question is this. I received two separate 1099-MISC from two separate companies for the same prize winnings. One from the actual company that I entered into the sweepstakes with,and one from the company that,I suppose was the sponsor. Do I need to include both,which shows up as winning the same prize twice,or just one of them. If just one,then which one?

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1 Reply
LeonardS
Expert Alumni

Question on 1099-MISC

To enter your two 1099-MISC that you received for the same item and remove one from being reported as income sign in to your TurboTax account if it is not open and follow these steps:

  1. Select Income & Expenses.
  2. Scroll down to Less common income and select show more.
  3. Scroll to the line Miscellaneous Income, 1099-A, 1099-C, and check start.
  4. On the page Let's Work on Any Miscellaneous Income scroll to the line Other reportable income and click start.
  5. On the page Any Other Taxable Income select yes.
  6. On the page, Other Taxable Income enter a description indicating 1099-MISC and amount.
  7. Select continue.
  8. Select done on the next page

Repeat the above steps again this time in step 6 add the amount as a negative value

 

This will report both 1099-MISC and remove the second one as taxable income.  

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