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How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

 
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How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

Go to Miscellaneous income and pick the very bottom item, other reportable income.  Settlements is one of the choices.

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How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

That depends on what the settlement was for.  What kind of wrongdoing was alleged how were you damaged, does the settlement contain interest as well as damaged, and so on.

How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

So apparently the lawsuit alleged that the fund earned less money than it should have (or lost money), due to improper decisions made by the fund managers.  Do you agree?

Did you own this fund inside a qualified retirement plan, like a 401(k), 403(b), IRA, or some other instrument? Or did you own the fund on its own as part of your investment portfolio but not in a qualified plan?

How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

1) I agree.

2) My wife inherited her parent's retirement funds one is an IRA.  We cannot add funds to either.  Both accounts retirement account inherited upon death, both are investing in the same financial instrument.

I assume the payout ( < $2000) is taxable income as are other distributions related to these funds.
I'm looking to confidently report in the proper location.

How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

If it's from an IRA, then the proceeds of the IRA would be taxable as ordinary income (not investment income) when paid.  That means the settlement funds should also be listed as taxable ordinary income, not investment proceeds.  I would list them as "other income" in the section for "other uncommon income" or "miscellaneous income".  I'm not sure what categories Turbotax lists, but they should all pretty much end up in the same place on the tax form.  See what choices it gives you.

How/where do I report a money obtained from a court settlement ( www.oppenheimercalmunilitigation.com ) related to our retirement funds?

Go to Miscellaneous income and pick the very bottom item, other reportable income.  Settlements is one of the choices.

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