It depends. For some odd reason, Turbo Tax treats the reporting of 1099-MISC as a business and this shouldn't be. Here is a perfectly acceptable solution to report this and keep out of Schedule C Business income.
- Log into or open Turbo Tax. Delete your 1099-MISC where you reported it. i have another solution.
- Go to federal>wages and income>less common income>miscellaneous income.
- Other reportable income>start or revisit
- When it asks for a description, enter Gross Income from 1099 MISC from Lawsuit and amount
- Because of the tax bill passed at the end of 2017, attorney fees are no longer deductible thus the income on the 1099-MISC is fully taxable.
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