MarilynG1
Expert Alumni

Get your taxes done using TurboTax

No, you don't want your 1099-Misc for a settlement to be reported as Self-Employment income on Schedule C.

 

You can Delete Schedule C  from your return, and you may want to Delete/Re-Enter your 1099-Misc.  This link tells How to Delete a Form in TurboTax Online

 

Click this link for info on How to Enter a 1099-Misc for a Settlement.

 

This link gives details on How to Enter a W-2 for a Settlement.

 

Attorney Fees are deductible if incurred trying to get Taxable Income for you (Wages).  If some part of the attorney's fees are for obtaining 'punitive damages', those would not be deductible.   You can verify if the Attorney Fees were split with the law office.

 

Click this link for more info on Deducting Attorney Fees on 1099-Misc

 

 

 

 

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