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lamiller123--
New Member

How do I claim a settle payment received in 2016?

 
1 Reply
LindaA
Level 10

How do I claim a settle payment received in 2016?

Where you enter a taxable legal settlement depends on whether you received a Form 1099-MISC or not. 

If you did receive a 1099-MISC:

  • Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
  • Click My Account (top right of your screen).
  • Select Tools.
  • In the pop-up window, select Topic Search.
  • In the search bar, type 1099-misc.
  • In the results box, highlight 1099-misc, then click GO.
  • Answer Yes to the question Did you get a 1099-MISC?
  • On the Does one of these uncommon situations apply? screen, select This was money from a lawsuit settlement and then answer the back wages question before clicking Continue.


If you didn't receive a 1099-MISC:

  • Open (continue) your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
  • Click My Account (top right of your screen).
  • Select Tools.
  • In the pop-up window, select Topic Search.
  • In the search bar, type lawsuit.
  • In the results box, highlight lawsuit settlement, then click GO.
  • Answer Yes to the question Any Other Taxable Income?
  • Enter a brief description and the amount you received and click Continue.


Are legal settlements taxable?  https://ttlc.intuit.com/replies/4787698

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