I received a settlement as follows:
Total damages and settlement - $170,197.50 (46,400.80 actual damage + $123,796.70 additional damages)
Recovery for Actual Damage - $46,400.80
Recovery from Additional Damages: $68,088.19 (123,796.70 - 55708.51)
Total to client - $114,488.99 (46,400.80 + 68,088.19)
Attorney fess - $55,708.51
How much of this is Taxable income and where do I enter it?
