Strong Settlement

[Jesse]

Taxpayer has stub with the allocations(Losses and Advisory Fees) amounting to just over $100, but he said the actual check was for just over $1,900.

Another stub for $60 with actual check $975.

One was a stock fund, one was a retirement fund.

I've printed out the 11 page fair fund statement to take home for reading but am wondering if anyone else has encountered this and could help provide a little insight?

[Jesse]

Just a bump to see if any thoughts?

In reading the guide on the IRA's it explains for checks payable to the investor and mailed to the investor:
If the distribution check was made payable to you (as opposed to the custodian of your IRA) because of the way your account was registered in the records obtained for the distribution, please contact the Fair Fund Administrator immediately to receive instructions to get a replacement distribution check made payable to the custodian of your IRA. CAUTION: If you cash the check, or deposit it in any account other than an account eligible to receive the check, it may be subject to a 10% penalty and be taxed as ordinary income in the year of receipt.

==================
Taxpayer put it in their checking account. No 1099R was issued. I'm thinking I should include the amount in their income on line 21?

[DonPriebe]

Taxpayer put it in their checking account. No 1099R was issued. I'm thinking I should include the amount in their income on line 21?

I had two of these. Put them on line 15 with penalty on line 58. (Clients were young.)