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Deductions & credits
It depends upon the type of legal settlement.
Please see this link to help you determine if your settlement is considered taxable or not.
Based upon the review of the link above, if you determine your legal settlement is taxable, please see this link to help enter the information into TurboTax.
If the settlement you received was not due to an actual legal settlement but from an insurance claim, please comment so we can direct you accordingly.
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March 15, 2024
4:05 PM