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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15204
Experience:  15years with H & R Block. Divisional leader, Instructor
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I received a cash award (written out with a checkbook). Tax

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I received a cash award (written out with a checkbook). Tax has not been deducted. How would I report it on my tax statement?

Robin D. :

Hello and thank you for using Just Answer,

Robin D. :

Reporting the cash award woulr depend on why you were paid this amount.

Customer:

A scientific young investigator award- poster presentation.

Customer:

At a conference type of event.

Robin D. :

So you entered a contest with your poster. You would simply include the amount on your tax return line 21 Other Income.

Robin D. :

It will be added to your income for the year.

Customer:

Okay.

Robin D. :

You may find that the organization does issue you a 1099MISC

Robin D. :

May I help you with anything else?

Customer:

Thanks. I have another tax question- not sure if it should be included...

Robin D. :

Is it about the award?

Customer:

no

Customer:

I can ask a separate question if it helps.

Robin D. :

Just Answer does require that we remind about the need to satrt a new question.

Customer:

Okay. Thanks.

Robin D. :

Your positive rating is always thanks enough.


 

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