topic State compensation insurance fund payout/settlement in Get your taxes done using TurboTax

State compensation insurance fund payout/settlement

leeac — Sun, 28 Mar 2021 23:30:15 GMT

I've received a settlement/payout from the state compensation insurance fund in California, where would I put that?

gloriah5200 — Sun, 28 Mar 2021 23:43:45 GMT

It would be entered onto your return depending on the exact type of tax reporting document received.

If reported on Form w-2, then enter it as a W-2.

If reported on Form 1099-R, then report it as a 1099-R, etc.

leeac — Sun, 28 Mar 2021 23:51:42 GMT

Thanks, what if we've received none of those, just an explanation of benefits in the stub above the check?

gloriah5200 — Mon, 29 Mar 2021 00:27:13 GMT

I recommend you contact them. It could be that it may not be taxable to you on your return if you did not get a tax reporting document.

They are the best ones to ask at this time to find out taxability.