I received a lawsuit settlement for property damage though I have received confirmation they will not be sending a 1099-INT. Would I still enter this under the 1099-INT?

Forum|Forum|1 year ago
February 15, 2025
1 reply
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SharonD007

Level 14

No, settlement income isn't reported on a 1099-INT. Form 1099-INT is used for investment income.

Non-injury settlements are considered other taxable income. You should receive a Form 1099 if your settlement is taxable. You will be taxed on the income based on the tax bracket that you fall in and the federal income tax rates.

Please see the TurboTax article Are legal settlements taxable? for more information.

Refer to the TurboTax article Where do I enter an award from a taxable legal settlement? for instructions for entering your settlement if you didn't receive a 1099-MISC.

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