Yes. All worldwide income is reportable and taxable as Tax Champ Mike9241. The proper treatment is to report this as the sale of a security.
In a spinoff, it’s possible that you received cash in lieu for the sale of a fractional share of your old company’s stock. In that case, you will have a cost basis.
Most companies will have a shareholder’s guide on their website telling you how to handle your payment. You can also contact investor relations.
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