I've invested in a lot of securities over the years, and for the past ten years or so I've received about six new class action notices a year. I answer all of them and from time to time I've actually received a settlement check, sometimes large enough to take SWMBO out for an expensive meal.
These class actions without exeption are for securities I bailed out of years ago and for which I'd reported capital losses for the the year in which their sale took place.
I've reported the few settlement payments I've received as long term capital gains in the year in which they were received.
Am I doing things correctly?
Thanks guys,
Jeff