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Self employed
Yes, enter Form 1099-INT under the Interest & Dividends topic.
Enter Form 1099-MISC under the Income from Form 1099-MISC topic. Be sure to check the box for "Lawsuit Settlement" and for "Includes back wages" then enter the net amount of wages paid with the settlement.
You do not need to report the net settlement award, as the previous entries are sufficient. The 1099-MISC Box 3 income will appear as a positive number and net wages will appear as a negative number on Form 1040 Line 8(z) - effectively reporting the "net settlement award."
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March 19, 2025
7:46 AM