What tax form reports a cash prize or award as income?

 

Cash prizes and awards are reported on one of two IRS forms depending on an individual's "residency" status:

1. Tax Residents (i.e. U.S. Citizens, Green Card holders, and anyone satisfying the Substantial Presence Test) will receive a Form 1099-MISC.  
2. Non-resident aliens will receive Form 1042-S.

Anyone with an "upgraded" UT EID can access their Forms 1099-MISC & 1042-S on UT Direct under "My Tax Forms".  For questions about these forms, please contact Tax Services at 1099@austin.utexas.edu or 1042S@austin.utexas.edu.  See Upgrade a UT EID for information.