topic Do I claim a class action settlement? in Get your taxes done using TurboTax

Do I claim a class action settlement?

allformari — Sat, 01 Jun 2019 05:58:44 GMT

The amount received was under $200.

NicoleU — Sat, 01 Jun 2019 05:58:46 GMT

Yes, legal settlements are reported as "Other Taxable Income."

You may or may not receive a 1099-MISC reporting the income. Regardless, this is how you should enter it:

Click on Federal Taxes
Wages & Income > I'll choose what I work on.
Other Common Income section, click Show more
Form 1099-MISC, click on the Start/Update
Did you get a 1099-MISC?, click Yes
Let's get the info from your 1099-MISC, box 3 Other Income, click Continue
Describe the reason for this 1099-MISC, click Continue
Select This was money from a lawsuit settlement on the Does one of these uncommon situations apply? screen and then answer the back wages question before clicking Continue.

MorningSleeper — Sat, 01 Jun 2019 20:40:49 GMT