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abraham-hernandez13
February 23, 2025
Question

How do you report income from a 1099-MISC?

  • February 23, 2025
  • 1 reply
  • 0 views
I received a settlement from my bank. They provided me a 1099-MISC. Is this reportable as tax?

    1 reply

    D
    DianeW777
    February 23, 2025

    Yes.  This is considered taxable income if it was not a settlement for discrimination. Report the income using the steps below.

    Other Miscellaneous Income:

    1. Sign into your TurboTax Online account
    2. Go to Tax Home (left panel)  Wages and Income  section 
    3. Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C
    4. Select Other reportable Income > Enter a description (----) and the amount

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