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I got a check for a settlement in Dorado v. Bank of America. How/where do I report this as income?
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June 4, 2019
8:52 PM
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Get your taxes done using TurboTax
The information that I see about this case is that the settlement was for punitive damages due to BOA's breached promissory notes underlying certain FHA-insured home loans in violation of Federal Housing Administration regulations.
Punitive damages are taxable income, Please see the FAQ below to enter the form
https://ttlc.intuit.com/replies/3302162
Here's more information on taxable legal settlements:
June 4, 2019
8:52 PM