settlement money

Forum|Forum|1 year ago
April 11, 2025
1 reply
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I received money from 2 different settlements. Both total to $30. I did not receive any tax forms for this like 1099. Do I still have to report this on my tax return? If yes, how or where do I report it on TurboTax online? Thanks.

DawnC

Employee

Yes, you should report it as Other Income. You can search for other reportable income (use that exact phrase) and use the Jump to other reportable income link in the search results.

Here's how to enter them/it into TurboTax:

With your return open, go to Federal then Wages & Income
Open the Less Common Income section and select Start or Revisit next to Miscellaneous Income, 1099-A, 1099-C
On the next screen, select Start or Revisit the very last entry, Other Reportable Income
Answer Yes on the Any Other Taxable Income? screen
On the next screen, enter a description and then enter the total USD amount
Select Continue then Done