I have looked at the Bill before posting and I just wanted to make sure I understand. how it reads. We sued for both, loss of property and emotional damage, we settled out of court after mediation, due to the fact that the power company was certain they would win and we were tired of waiting for a resolution after nearly 3 years, not to mention the court date would have been months more later. I might add I have yet to receive a 1099, I have to check with the legal firm and see if I was supposed to? I personally did not receive any compensation check from an insurance company, my now deceased father did for additional living expenses in I believe it was Nov 2020. To the best of my recollection the Insurance check came before Dec 31, 2020. One thing I'm trying to understand is if indeed I have a tax liability it would not be only for what I received from the settlement, but for attorney's fees as well, which I take it, means the attorneys share of the settlement and that could be as much 35%, is that correct? Thanks for taking the time to try answering my question.
@VictoriaD75
