Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 23, 2025 11:02:01 AM

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?

0 1 220
1 Replies
Expert Alumni
Feb 23, 2025 11:05:18 AM

Yes.  This is considered taxable income if it was not a settlement for discrimination. Report the income using the steps below.

Other Miscellaneous Income:

  1. Sign into your TurboTax Online account
  2. Go to Tax Home (left panel)  Wages and Income  section 
  3. Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C
  4. Select Other reportable Income > Enter a description (----) and the amount