H1B and 1099-MISC

[onkar_k]

I recently won some prize money from a affiliate website (around $800) and they are sending me a 1099-MISC form. I am on H1-B and I need to know how do I report this money while filing my taxes for this year.

I believe you need to file Schedule C along with 1040 but just need to confirm with this.

This is not any income and it's just some contest winning money. Please help!!

Thanks for your help!
Onkar

[onkar_k]

reply

Can someone please reply this question? I am sincerely looking for some answers.

[txh1b]

No problems as long as it is not for work rendered by you.

[onkar_k]

1099-misc

Thanks. So I do need to file in the 1099-MISC along with my W-2 next year which the company sent me right?

[txh1b]

Yes

[onkar_k]

Yes

Will this in any way affect my Green Card processing in the future? Please reply. I am a little concerned about this.

[txh1b]

No. It is similar to the way you declare your gains from any stock, interests, gamblig etc. If you are so very concerned, go talk to a immigration lawyer and a tax law attorney. Pay them $400 each and you will have nothing left from your 1099 and rather be negative after paying tax on the income.

[onkar_k]

Re

I am not overly worried now that you have anwered the question to my satisfaction. I wouldnt risk my prize money over a immigration lawyer and waste it completely.