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How do you report income from a 1099-MISC?
I received a settlement from my bank. They provided me a 1099-MISC. Is this reportable as tax?
Yes. This is considered taxable income if it was not a settlement for discrimination. Report the income using the steps below.
Other Miscellaneous Income:
- Sign into your TurboTax Online account
- Go to Tax Home (left panel) Wages and Income section
- Scroll to Less Common Income > Select Miscellaneous Income, 1099-A, 1099-C
- Select Other reportable Income > Enter a description (----) and the amount
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