How do you report income from a 1099-MISC?

abraham-hernandez13 · ‎February 23, 2025

I received a settlement from my bank. They provided me a 1099-MISC. Is this reportable as tax?

DianeW777 · ‎February 23, 2025

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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**Mark the post that answers your question by clicking on "Mark as Best Answer"

DianeW777 · ‎February 23, 2025

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

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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