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MGC94
Level 7
March 8, 2023
Question

unclaimed property

  • March 8, 2023
  • 2 replies
  • 35 views

What do you do if someone gets money for unclaimed property? 

They got a check for $6,402.89 

This topic has been closed for replies.

2 replies

MGC94
MGC94Author
Level 7
March 8, 2023

They also got a 1099-int from the unclaimed property of $1,352.05

 

Just-Lisa-Now-
Intuit Community Champion
March 8, 2023

Obviously the 1099INT gets included..."what" was the other money?  would it have been taxable if they'd received back before it went unclaimed?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
MGC94
MGC94Author
Level 7
March 8, 2023

All the gave me was a check slip from the state with that amount on it. I do not know what the unclaimed property was. 

 

If it does get taxed. How does it get reported? 

IRonMaN
Level 15
March 8, 2023

Kinda depends on what the payment was for.

Slava Ukraini!