topic Settlement with my Financial Advisor who handled part of my retirement. How do I report it to IRS? in Retirement tax questions

Settlement with my Financial Advisor who handled part of my retirement. How do I report it to IRS?

natihamill — Mon, 09 Mar 2026 09:05:19 GMT

Hello,

I had a dispute with my former financial advisor for mishandling my retirement investments. We settled in 2021 and I rolled the account over into my employer's retirement account. I also received a check from the firm (losses due to mishandling of my investments) that couldn't be transferred to my current retirement account. All they sent me was the check, no forms. I am using TurboTax software for filing my taxes. Do I report it as income? Under what section and possibly form do I file it?

Thanks in advance.

Re: Settlement with my Financial Advisor who handled part of my retirement. How do I report it to...

ColeenD3 — Sat, 05 Mar 2022 14:23:40 GMT

Yes, you have to report it as income. First, I would check to see why you did not get a reporting form. They may have overlooked it and it may have gotten lost.

If you did not receive a 1099-misc or W-2, then you can report this as miscellaneous income.

Select Federal Taxes, Wages & Income, I'll Choose What to Work On

Scroll to Less Common Income, and select Miscellaneous Income, 1099-A, 1099-C

Select Other Reportable Income

Select Yes

Complete the information