If you want to report the income without a 1099-MISC, you can report it as "other income" on Schedule 1 line 8z with a description that you enter. Here's how to enter it in TurboTax.
- Go to Federal Taxes > Wages & Income.
- On the screen "Your 2024 Income Summary," scroll all the way down to the last section, "Less Common Income." Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."
- On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income."
- The next screen asks, "Any Other Taxable Income?" Click Yes.
- On the next screen, "Other Taxable Income," enter a short description such as "Class action settlement" and enter the amount. Click Continue.
- On the next screen click Done.
