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Lawsuit settlement
I received a settlement as a member of a class. With the check, I received a letter stating the settlement funds were considered to be recovered retirement benefits. The letter also stated the law firm had decided to issue a 1099-misc instead of 1099 R as it would save them and us time and money. How do I show this as retirement funds instead of wages since the 1099-misc section doesn't give me that option and I'm sure I'm being taxed higher as a result. What really stinks is the fact that the lawsuit was against the feds. 🙂
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‎April 11, 2022
8:52 PM