If I received liquidated damages from a settlement how should that be reported on a 1099.

[JulieH1]

Punitive damages, liquidated damages, compensatory damages for nonphysical injuries or sickness (e.g., emotional distress) and any taxable damages other than amounts constituting wages are reported by a business payor on Form 1099-MISC. 

Legal settlements that are taxable (including previously-deducted medical expenses related to physical injury or illness) are entered as miscellaneous (other) income.

When you received a 1099-MISC, follow these steps to report the income:

1. Sign in to TurboTax and select the Take me to my return button on the main screen.
2. Type “1099-misc” in the Search box and then select the “Jump to” link.
3. Select Add a 1099-MISC, and input the information from your paper 1099-MISC, then select Continue.
4. On the Describe the reason for this 1099-MISC screen,
   type in "lawsuit settlement" and select Continue.
5. On the Does one of these uncommon situations apply? screen, select This was money from a lawsuit settlement and then answer the back wages question before selecting Continue.

If you didn’t receive a 1099-MISC, follow these steps to report the income:

1. Sign in to TurboTax and select the Take me to my return button on the main screen.
2. Type “lawsuit settlement” in the Search box and then select the “Jump to” link.
3. Answer Yes to the question Any Other Taxable Income?
4. Enter a brief description and the amount you received and click Continue.

Interest earned on settlements is taxable income and should be entered as a Form 1099-INT.

[hardcorchic100]

Is there a certain box this income should be entered under?