Question

How do I report a gift card that is taxable when filing for taxes?

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I received a $100 gift card from company as a reward, and the letter mentions that I'm responsible for the tax portion of it. How can I report it in Turbotax?

TurboTax Online

RachelW33

You can include the value of the gift card as "Other Income" on your Tax Return by following these steps:

Sign In to TurboTax Online
Click "Take Me to my Return"
Click "Federal" from the left side of your screen
Scroll down to "Less Common Income" and click "Show More"
Click "Start" to the right of Form 1099-A, 1099-C
Scroll down to "Other Reportable Income" and click "Start"
On the Any Other Taxable Income? screen, click Yes
On the Other Taxable Income screen, add a description and the dollar amount
Continue with the onscreen interview until complete