You won't be able to report this as a 1099-MISC without a Payer's EIN.
If you didn’t receive a 1099-MISC, follow these steps to report the income in TurboTax Online:
- Sign in to TurboTax and select the Take me to my return button on the main screen.
- Type “lawsuit settlement” in the Search box and then select the “Jump to” link.
- Answer Yes to the question Any Other Taxable Income?
- Enter a brief description and the amount you received and click Continue.
If you didn’t receive a 1099-MISC, follow these steps to report the income in TurboTax Desktop products:
Search Topics for "lawsuit settlement" or go to the Other Reportable Income interview under Federal Taxes > Wages and Income > Less Common Income > Miscellaneous Income.
Interest earned on settlements is taxable income and should be entered as a Form 1099-INT - no 1099-INT or EIN necessary.
