- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mutual fund legal settlement distribution shows up on 1099B, where to report this?
I contacted settlement firm and was told they didn’t report such small sums ($11) on the 1099s they provided brokers as a result of this swettlement. I don’t think its a cash in lieu of fractional shares. No sales transaction occurred.
Topics:
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mutual fund legal settlement distribution shows up on 1099B, where to report this?
You can report this amount as Other Income. To do this in TurboTax,
- In your Federal return, choose the tab for Wages & Income
- Scroll down to Less Common Income (you may have to click Add more income and See more income to view this topic) and Show more
- Start/Revisit Miscellaneous Income and choose Other reportable income
- Say Yes to continue to the screen Other Taxable Income. Enter your item description and the amount.
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mutual fund legal settlement distribution shows up on 1099B, where to report this?
You can report this amount as Other Income. To do this in TurboTax,
- In your Federal return, choose the tab for Wages & Income
- Scroll down to Less Common Income (you may have to click Add more income and See more income to view this topic) and Show more
- Start/Revisit Miscellaneous Income and choose Other reportable income
- Say Yes to continue to the screen Other Taxable Income. Enter your item description and the amount.
Still have questions?
Make a post
Or browse the Forums