I received a class action lawsuit settlement check resultant from a security I had in my IRA account. The security has already been wiped from my account as worthless because the company declared bankruptcy in 2015. The check is not an insignificant amount of $$.
My question is:
Do I need to somehow put this money back into my IRA (not as a contribution) Or do I have to declare this money as a distribution on my taxes? I'd rather not take it as a distribution because it is a large sum.
