The prompts in TurboTax Online are very similar to those posted above.
- On the Income & Expenses page, scroll all the way down to Miscellaneous Income, 1099-A, 1099-C. Choose Add/Edit.
- On the next page, scroll all the way down to Other Reportable Income. Choose Start/Revisit.
- If you have already entered other Misc Income items, choose 'Add another income item', or if not, you'll be asked 'Do you have any other taxable income?' Yes
- Enter a description and the amount as a negative number.
Remember that legal fees are only deductible now for discrimination settlements.
@better2025
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