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Yes, legal settlements are reported as "Other Taxable Income."
You may or may not receive a 1099-MISC reporting the income. Regardless, this is how you should enter it:
Yes, legal settlements are reported as "Other Taxable Income."
You may or may not receive a 1099-MISC reporting the income. Regardless, this is how you should enter it:
Most class action lawsuit settlements do not send a 1099-MISC, if you did not receive one and follow this answer, it will show a red exclamation point error, asking for EIN or SSN which one is not going to have if they don't send a 1099-MISC.
To resolve, follow instructions in following answer.
https://ttlc.intuit.com/questions/4324380-i-recieved-a-class-action-lawsuit-settlement-from-fedex-co...
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