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Get your taxes done using TurboTax
Indicate that this is a lawsuit when entering the 1099-MISC. When you click the radio button •This money was from a lawsuit settlement, a drop-down will ask if any of this income is for back wages. Since you are going to enter the W-2 for the wage portion, answer NO, this is not for back wages. This will put the amount of the 1099-MISC on Line 8 of Form 1040 and it will be taxed as ordinary income.
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February 22, 2023
8:36 PM