This is in settlement to a lawsuit that the U.S. Securities and Exchange
The amount of the check is broken down as Invesco Losses, Invesco Advisory Fee, Invesco Post Judgment Interest, Bank of America Dilution, Bear Stearns Dilution.
The main question that I have is whether the amount of this check is taxable under IRS rules. If so, is it considered income, capital gain (log/short term?), or what? I no longer am a customer of Invesco; I closed my account back in 2004 and I do not have any supporting documentation for tax purposes.
I am not too worried about tax implications because the check is only for a couple hundred dollars, but would like to do my best to report it in the correct way on my 1040.
What kind of information do I need to gather together?