The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Litigation Settlement - no 1099-MISC||Date: 3/31/2013 5:17 PM|
|Author: snippee||Number: 118231 of 122910|
We received $46.82 last year as part of a class action litigation settlement fund. When the check arrived, I saved the stub and the short explanatory note that came with it, part of which reads:
"Because the tax treatment of this distribution varies based on the recipient's tax status, the Claims Administrator cannot determine the appropriate tax reporting for any recipient. You should consult your tax advisor to determine the tax consequences, if any, of this distribution to you."
We didn't get a 1099-MISC but figured it goes under Miscellaneous Income. Am I mistaken?
Thanks, as always, for your help.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|