Already filed. Just got a 1099-Misc.;money from a Confidential court Settlement. Is it even taxable? If it IS & I report won't change bottom line. Amend & report or not?

sunrae1 — Sat, 01 Jun 2019 20:54:50 GMT

If you received a 1099-MISC you will want to amend your r...

KittyM — Sat, 01 Jun 2019 20:54:52 GMT

If you received a 1099-MISC you will want to amend your return to report the income, even if it is not taxable, because it is up to you to report it if it is not taxable to the IRS. If you do not, the IRS will send you a notice called a CP2000 billing you for taxes, penalties and interest.

I don't know the specifics of your case, so I cannot confirm if the amount is taxable or not. You should consult with your attorney to confirm the tax treatment of your settlement.

topic Already filed. Just got a 1099-Misc.;money from a Confidential court Settlement. Is it even taxable? If it IS &amp; I report won't change bottom line. Amend &amp; report or not? in After you file

Already filed. Just got a 1099-Misc.;money from a Confidential court Settlement. Is it even taxable? If it IS & I report won't change bottom line. Amend & report or not?

If you received a 1099-MISC you will want to amend your r...

topic Already filed. Just got a 1099-Misc.;money from a Confidential court Settlement. Is it even taxable? If it IS & I report won't change bottom line. Amend & report or not? in After you file