Get your taxes done using TurboTax

You should report the income in the year you got the check. As to where to report the transaction in TurboTax ? It should be reported as a sale with no cost, unless you have a record of the item's cost. here's the path to follow to enter the transaction in TurboTax:

1. Start at FEDERAL TAXES, then select Wages & Income 
2.  You might see "I'll choose what I work on" > Scroll to Investment Income 1099 B, Stocks, Bonds, Mutual Funds, Other 
3.  Answer the question Did you sell any investments?   
4.  Did you get a 1099 B  yes, then select  "I'll type it myself'
5.  Enter the State as bank or brokerage
6.  Enter 1099 B info as Sale #1 with cost data if you have it, otherwise, zero cost.