Vanessa A
Expert Alumni

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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