I received a 1099-MISC for an age discrimination case settlement. This was so stressful, that I just asked for my unused vacation and sick leave. Is that taxable? And if so, that is just added to my regular income. I also should be able to deduct my attorney's fees, but not sure where that is done.
You'll need to sign in or create an account to connect with an expert.
Yes, settlement income received from a lawsuit is generally tax deductible unless those fees were from sickness or injury. Unfortunately, attorney fees are not deductible from your taxes. The 1099-MISC is entered into TurboTax by following these steps:
For more information on tax implications of settlement income see the links below:
Tax implications of settlement income
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
unicorn1116
New Member
Briancalif1
Level 1
blevetan
New Member
tsttax03
New Member
cowleylarsons
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.