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I am pulling together our tax forms for this year. We don't itemize and have rather simple taxes to do. In 2010 we received a $750 settlement from a Class Action Lawsuit from when an industrial fire broke out. Most of the town was evacuated and the company was found at fault. They settled and sent all affected households $750.

I cannot figure out where this income is supposed to be reported, if it even is. I have yet to receive any documentation for it either; all we received last year was a check & stub.

I looked on "Other" income but is specifically stated not to include settlements from lawsuits.

Any help would be much appreciated as I am trying to get my taxes in as quickly as possible.

Thanks
 

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If you get anything, it will be a 1099-Misc. If you don't get one by the end of February - don't worry about it. If you get one even later, you can always file an amended tax return - although over $750, it will hardly be noticed, I think.

Please note that this is not legal or tax advice and simply the opinion of Greebo. Opinions of Greebo are not binding and do not reflect on the opinions or beliefs of Frugal Village, it's community members, moderator staff, or even of Greebo himself. Greebo takes no responsibility for anything Greebo says and if you get into trouble by listening to Greebo, well, more the fool you!

Sincerely, Campaign for Greebo for Greebo, 2011.
 
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