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

7479allset · ‎June 6, 2019

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

ToddL · ‎June 6, 2019

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.

ToddL · ‎June 6, 2019

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.

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