Got funds from stockholders class action settlement with no 1099 but explanation seems to split proceeds between interest and capital gains.

[richard's_tax]

 Do I still enter as 1099misc or in the cap gain interview?

[ToddL]

I realize you may know how much is cap gain and how much is interest, but the answer below is the easiest way to report the income. You can, however, enter a 1099-INT for the interest amount and a 1099-B for the capital gain portion, as if you received them from the Payer (stock issuer)

[richard's_tax]

I said cap gain, my apologies, it actually states that the fee is a stock fund divided taxable as ordinary income (an unqualified divided I presume).  Here too, can I enter a 1099-B for this dividend?

[ToddL]

Use the 1099-DIV interview - it is easier.

Since all of the settlement is ordinary income, the easiest way is to use the Other Income approach:

Sign in to TurboTax and select the Take me to my return button on the main screen.
Type “lawsuit settlement” in the Search box and then select the “Jump to” link.
Answer Yes to the question Any Other Taxable Income?
Enter a brief description and the amount you received and click Continue.

[richard's_tax]

Thanks.

[ToddL]

My pleasure!

[ToddL · Accepted solution]

Don't report this as a 1099-MISC, unless you get a 1099-MISC.

See the following FAQ on "Where do I enter an award from a taxable legal settlement?" Select "See entire answer", if it appears.

Where do I enter an award from a taxable legal settlement?

If you know how much of the settlement is capital gain and how much is interest income, you can also create  a 1099-INT for the interest amount and a 1099-B for the capital gain portion, as if you received them from the Payer (stock issuer). Both approaches will work, but one is easier than the other.