Taxable Legal Settlement

3 replies
31 views

I received a taxable legal settlement. Federal taxes were withheld. Where do I enter this information in Turbo Tax?

LeonardS

Alumni - Intuit

Can you clarify what document you received reporting the taxable legal settlement?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

rugmanvaAuthor

Level 2

I received a check from my attorney. It included a breakdown of the settlement, including deductions for federal tax, social security, and Medicare. I didn't receive a 1099-MISC.

LeonardS

Alumni - Intuit

To enter your Taxable Legal Settlement sign into your TurboTax account if it is not open and follow these steps:

Select Income & Expenses.
Scroll down to Less common income and select show more.
Scroll to the line Miscellaneous Income, 1099-A, 1099-C and check start.
On the page Let's Work on Any Miscellaneous Income scroll to the line Other reportable income and click start.
On the page Any Other Taxable Income select yes.
On the page, Other Taxable Income enter the description and amount.
Select continue.
Select done on the next page