Question

Charles Schwab SEC Settlement check taxable?

Forum|Forum|2 years ago
February 11, 2024
1 reply
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We received a check in 2023 for a settlement of a fair fund distribution settlement between Charles Schwab and the SEC with regards to their Intelligent Portfolios. We cashed the check and did not deposit it to the IRA. Is this taxable income? No 1099 has been received.

J

JamesG1

I see reports that the taxability of this settlement depends upon several issues such as the type of investment involved and what action you take with the proceeds when they are received.

If you have not yet received a consolidated 1099 statement from Charles Schwab reporting this amount, contact your Charles Schwab representative for direction.

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