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Get your taxes done using TurboTax
If you didn’t receive a 1099-MISC, follow these steps to report the income:
- 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.
Interest earned on settlements is taxable income and should be entered as a Form 1099-INT.
[From: https://ttlc.intuit.com/questions/1901380-where-do-i-enter-an-award-from-a-taxable-legal-settlement]
[Edited 03.14.2018 PM EST]
June 4, 2019
12:59 PM