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Level 4

Question

No 1099-R received for settlement check

Forum|Forum|3 years ago
April 12, 2023
1 reply
0 views

Good afternoon,

I received a check for $91.69 in December of 2022 for a class action settlement. I just realized that I did not get a 1099-R for this payment. I called the company that issued the check and was told that I do not have to report transactions under $200.00 per the settlement agmt. Is this true? I am assuming that IRS doesn't know about this payment if no 1099-R was issued. Should I leave it alone or report it?

Thank you.

TurboTax Deluxe Online

Level 15

Assuming it is a part of a settlement agreement and for such a small amount, i would leave it off your return. i don't think no one would chase you down and hog-tie you for that small amount, particularly the IRS.

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DRSmith4healthAuthor

Level 4

Hello DaveF1006

Thank you for your thoughts, Dave! That was my gut feeling too.