RobertB4444
Expert Alumni

Get your taxes done using TurboTax

@anita1515  If the amount received is taxable then you can amend your federal return for 2020.  If you prepared it using TurboTax then you just log in to your account, select the 2020 return and click amend.  

 

If the amount is non-taxable then leaving it off the return was the right thing to do.  You should prepare the evidence that makes the settlement non-taxable and keep it on hand in case the IRS asks about it.  But otherwise do nothing.

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