Won a prize in an online contest, not sure what to do about it on taxes.

[n-u-l-l-k-i-d]

I had paper work that I was sent but have misplaced it and now I have no idea what to do about it while filing my taxes. I filled out a w9 and signed an affidavit and sent it back to them. I am not sure what paper work I should have to file, where to get it, or if I can file without it.

[JoannaT · Accepted solution]

To enter your Prize winnings:

1. Go to the search bar (upper right)
2. Type other taxable income and press enter
   
3. Click on Jump to other taxable income
4. At the Other Wages Received screen, answer NO and continue
5. Scroll down to Other reportable income, click Start/Update
6. Click YES at Any Other Taxable Income?
7. Enter Prize Winnings, the amount and continue.
8. The amount should appear on your Form 1040, line 21.

[n-u-l-l-k-i-d]

I just want to verify that this will work for NON-cash prize? I received a computer valued at 1500$, so I'll just write "Prize computer" $1500?

[JoannaT]

Yes, you report the "Fair market value", which is either the value reported on the 1099-Misc (if you have it but you said you don't) by the organization awarding the prize or a documented advertised price from somewhere else.