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New Member
posted Jun 1, 2019 4:05:03 AM

I recieved a Class action lawsuit settlement from FEDEX CORP in the aount of $17899.62. The lawyers got $7474.19 and I got $10445.79, what am I responible for?

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1 Best answer
Level 1
Jun 1, 2019 4:05:14 AM

Please use the TurboTax FAQ below to enter the 1099MISC in TurboTax.  Enter the 1099-MISC exactly as printed and continue.  You will enter the legal fees later, under the Deductions and Credits tab.  Select Federal at the left side of the page if you are not already there, at the top you will see Deductions and Credit tab, under that tab in the Other Deductions & Credits section (scroll down to see this) is a sub-section for Legal Fees, you will enter the legal fees there.

https://ttlc.intuit.com/replies/3302162

7 Replies
Level 1
Jun 1, 2019 4:05:04 AM

Did you receive a 1099 MISC?

New Member
Jun 1, 2019 4:05:06 AM

yes

Level 1
Jun 1, 2019 4:05:08 AM

Can you let me know the amount in each box to the right of the form, include only the box # with an amount in it.

New Member
Jun 1, 2019 4:05:10 AM

box #3-$17899.62

New Member
Jun 1, 2019 4:05:11 AM

can you contact me by phone to help me with this?

New Member
Jun 1, 2019 4:05:12 AM

is the gross settlement taxable or just the net settlement?

Level 1
Jun 1, 2019 4:05:14 AM

Please use the TurboTax FAQ below to enter the 1099MISC in TurboTax.  Enter the 1099-MISC exactly as printed and continue.  You will enter the legal fees later, under the Deductions and Credits tab.  Select Federal at the left side of the page if you are not already there, at the top you will see Deductions and Credit tab, under that tab in the Other Deductions & Credits section (scroll down to see this) is a sub-section for Legal Fees, you will enter the legal fees there.

https://ttlc.intuit.com/replies/3302162