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New Member
posted Jun 6, 2019 8:55:21 AM

Are distributions from Fair Fund, no 1099, how to report?

This was an award on IRA from 1999 to 2002 violation of market timing.  Took in cash.  Where/how to report in software? 

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1 Best answer
New Member
Jun 6, 2019 8:55:22 AM

You can enter this as a lawsuit settlement. Since it was not reported on a 1099-MISC, here are the steps:

    • Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
    • Click My Account (top right of your screen).
    • Select Tools.
    • In the pop-up window, select Topic Search.
    • In the search bar, type lawsuit.
    • In the results box, highlight lawsuit settlement, then click GO.
    • Answer Yes to the question Any Other Taxable Income?
    • Enter a brief description and the amount you received and click Continue.

    1 Replies
    New Member
    Jun 6, 2019 8:55:22 AM

    You can enter this as a lawsuit settlement. Since it was not reported on a 1099-MISC, here are the steps:

      • Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
      • Click My Account (top right of your screen).
      • Select Tools.
      • In the pop-up window, select Topic Search.
      • In the search bar, type lawsuit.
      • In the results box, highlight lawsuit settlement, then click GO.
      • Answer Yes to the question Any Other Taxable Income?
      • Enter a brief description and the amount you received and click Continue.