Hello. I received a Settlement Check for a Court Case styled Cecil v. BP Case #16-CV-00410-RAW in the Eastern District of Oklahoma.
Is anyone else a participant in this case?
It’s the largest settlement I’ve ever received over the years. Over 2K. Came with a 1099 for tax purposes.
I got the notice and check as well, I’m just wondering what it means for the future earnings as I’m kinda confused from the notice. I’m glad I didn’t opt out that’s for sure!
We got one too but didn’t get a 1099.
I received a check too, but it didn’t have a 1099 with it. Now that I’m preparing my taxes, I need to figure out how to handle it. Would you mind sharing how your 1099 classified the income – as royalty income or something else? Did it reflect any deductions or tax withholding from gross income? I’ve tried to reach the settlement administrator but both the phone number and website are now not operational.Sure would appreciate any insight you or others could give.
Vivian, we received our 1099 and the amount is in Box 3 which is “Other Income”. Hope this helps. We have received settlements in the past from other companies and they have been marked either as “Royalty” or “Interest”.