topic I was informed from EEOC & an Attorney that the settlement I received is NOT taxable, but I received a 1099 from the Insurance Company, do I enter this on my tax return in Retirement tax questions

I was informed from EEOC & an Attorney that the settlement I received is NOT taxable, but I received a 1099 from the Insurance Company, do I enter this on my tax return

craiglusby — Thu, 06 Jun 2019 05:25:28 GMT

Discrimination suits are taxable. See Are legal settlemen...

Marketstar — Thu, 06 Jun 2019 05:25:29 GMT

Discrimination suits are taxable.

See Are legal settlements taxable?

https://ttlc.intuit.com/questions/2899059-are-legal-settlements-taxable

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Not compensatory damages where there is physical sickness...

craiglusby — Thu, 06 Jun 2019 05:25:30 GMT

Not compensatory damages where there is physical sickness and/or physical injury. Non the less, the Insurance Co. issued a 1099 mics (CYA I expect). The 'stock answer" is not what I was hoping for, the advice about "deductatbility" was provided me by an attorney AND the EEOC themselves. What I need is HOW to properly report the 1099, without it developing the whooping $33,000 in tax in the amount you owe field?

Generally, the only deductible is a taxable settlement is...

Marketstar — Thu, 06 Jun 2019 05:25:31 GMT

Generally, the only deductible is a taxable settlement is legal fees which are an itemized deduction subject to the 2% Adjusted Gross Income limitation.

topic I was informed from EEOC &amp; an Attorney that the settlement I received is NOT taxable, but I received a 1099 from the Insurance Company, do I enter this on my tax return in Retirement tax questions

I was informed from EEOC & an Attorney that the settlement I received is NOT taxable, but I received a 1099 from the Insurance Company, do I enter this on my tax return

Discrimination suits are taxable. See Are legal settlemen...

Not compensatory damages where there is physical sickness...

Generally, the only deductible is a taxable settlement is...

topic I was informed from EEOC & an Attorney that the settlement I received is NOT taxable, but I received a 1099 from the Insurance Company, do I enter this on my tax return in Retirement tax questions