USA Class Action Settlement from a stock in the IRA fund

Jul 29, 2014
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I bought a while ago some Citibank stocks in my IRA account.

A couple of years ago I received a letter that I was entitled to be in a class action. I answered to the letter.

Yesterday I got the check of 630 bucks.

I never sold the stock. They are still there at my IRA account.

What is the tax consequence of this class action award? Do I NEED to deposit it in my IRA account or cash the check and just report as ordinary income in my 1040 next year?


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