You can deduct any out-of-pocket expenses (cash) incurred as a result of Wells Fargo's corporate misbehavior.
Examples of such expenses would include the cost of a credit repair service, cost of credit monitoring, increased interest on a consumer loan, forfeited deposit on a failed loan application, etc..
If you had these costs, you can enter them on Line 21, Form 1040 using the "Other Reportable Income" interview -
for the Description, enter "Wells Fargo Credit Damages", and enter the costs as a negative number (in parentheses)
Go to the Other Reportable Income interview,
the very last interview in Wages and Income (Federal Taxes tab
> Wages & Income category > Less Common
Income subcategory > Miscellaneous Income sub-subcategory).
(Or enter "other reportable income" in the
Search Box and select "jump to other reportable income". These
payments are NOT wages).
