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Level 2
posted Apr 29, 2024 6:28:48 PM

Double Down Settlement

I have already filed my taxes.  I did receive a payment from the DoubleDown class action suit, however, I did not receive any kind of government form indicating that I had to claim the income.  My understanding of the lawsuit was that DoubleDown had bad practices and as a result had to return a percentage of the money that was spent.  As a result, I did not claim the income. I filed my taxes in the beginning of February and I have not received my refund yet.  The IRS is still reviewing my filing and I should hear something in the next couple weeks.  Am I in trouble for not claiming the income.  Also, since I didn't receive anything noting the income how would I have entered it in TurboTax?

 

Debbie, [email address removed]

0 1 32229
1 Replies
Level 15
Apr 29, 2024 6:50:41 PM

From what I can gather from the internet you settlement is a return of money you spent and not taxable which is probably why you and the IRS didn’t get a tax form.