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Get your taxes done using TurboTax
Yes, you still need to report this income even though you did not get a 1099 and it was only $150.
No. You are not required to include the payer of the class action suits TIN or social security number.
Where are you entering this settlement? If you do not have a 1099-Misc, you will need to enter this as other income in the less common income section.
To enter your income from a settlement click the following:
- Federal
- Income and Expenses
- Scroll down to Less Common Income and click Show More
- Start next to Miscellaneous Income
- Start next to Other Reportable Income
This will put it on line 8z of your schedule 1 as other income.
You will also need to delete the 1099-Misc entries that you made.
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‎February 18, 2025
9:15 AM
2,976 Views