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Get your taxes done using TurboTax
The income from lost wages would be reported as miscellaneous income, not Schedule C income. To enter this in TurboTax you will follow these steps:
- Sign in to TurboTax and open or continue your return.
- Click Wages & Income
- Click add more income
- Click Other Common Income
- Click Start next to 1099-MISC
- If you're asked Did you get a 1099-MISC?, answer Yes.
- If you've already entered a 1099-MISC, select Add Another 1099-MISC.
- Input the information from your 1099-MISC and select Continue.
- On the Describe the reason for this 1099-MISC screen,
type in lawsuit settlement and select Continue. - 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 selecting Continue.
Steps for entering a 1099-MISC can be found at:
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‎January 19, 2025
12:58 PM