Here is how to report a 1099-NEC from a class-action lawsuit
- Federal
- Wages and Income
- Income from 1099-NEC
- Answer the question about who received the 1099-NEC and who paid you
- Fill in the amount from Box 1
- Describe the reason for this 1099-NEC as Class Action Lawsuit
- Does one of these uncommon situations apply? - Select This was money from a lawsuit settlement
- Answer the question about back wages and fill in amount that was for back wages if any
Are Legal Settlements Taxable?
@drroyann
