2845317
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I report income with no W2 or 1099

We received less that $500 each from a class action settlement but did not receive any type of W2 or 1099. Where do I report this income?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
HelenC12
Expert Alumni

How do I report income with no W2 or 1099

Legal settlements that are taxable (including previously deducted medical expenses related to physical injury or illness) are entered as miscellaneous (other) income.

 

Interest earned on settlements is taxable income and should be entered as a Form 1099-INT.

 

If you didn’t receive a 1099-MISC, follow these steps to report the income:

  1. Sign in to TurboTax and open or continue your return
  2. Search for lawsuit settlement and select the Jump to link
  3. Answer Yes to the question Any Other Taxable Income?
    1. If you've already entered miscellaneous income, select Add Another Miscellaneous Income Item
  4. Enter a brief description and the amount you received and select Continue

Related Information:

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question