First off, I apologize for the length of this question. I lived in Wyoming until July 2020, a non-income tax state. I moved to North Carolina officially on July 9, 2020. I received a class action settlement last year from an employer I worked for when I lived in California in 2014. However, I did not receive a 1099. I simply received a check and stub.
The earnings section shows:
Wages $13x.xx
1099 MISC $27x.xx
Class Rep Award $0.00
GROSS SETTLEMENT AMOUNT $xxx.xx (this is the total of the above three lines)
The "Taxes, Deductions, and Adjustments" section shows deductions for the following:
Fed Inc Tax $2x.xx
Soc Sec Tax $8x.xx
Medicare Tax $2x.xx
State Inc Tax $1x.xx
CA SDI $1.xx
TOTAL DEDUCTIONS: $5x.xx
NET WAGES $8x.xx (this plus the total deductions line above equal the "wages" line in the "Earnings" box.
QUESTIONSs
How can I tell what needs to be reported since taxes have already been removed from this check? Since I do not have a 1099 how can I report this? Will the "wages" and "1099 MISC" lines under "earnings" needed to be reported separately in TurboTax even though they are on the same check?
I already have to purchase the North Carolina state TurboTax. Do I now need to purchase the Calfiornia state as well for this settlement?
I really appreciate your help everyone.
