You need to enter this figure in Forms Mode on the Other Adjustments to Income Smart Worksheet on Schedule 1.
TurboTax does not support this particular adjustment. You can enter the negative adjustment for the attorney fees up to the amount included in income which will show on line 8z on your schedule 1 if using TurboTax Online.
You may make the adjustment on line 24 if using TurboTax Desktop in FORMS.
If the award was reported and entered using Form 1099-MISC, you can enter the deductible attorney fee by selecting
Wages & Income
Less Common Income
Miscellaneous Income, 1099-A, 1099-C
START
Other reportable income
START
Type "Deductible attorney fee" as the description and enter the amount
More information about attorney fees
@EZtax92
Im trying to do this:
You may make the adjustment on line 24 if using TurboTax Desktop in FORMS.
However the program will not let me enter it.
You actually enter the expenses on the 1040 Wks. It does require an override to enter the income. Right click on a windows computer. The program will move it to Sch 1 where it should be.
Im in forms mode, clicking the dialog box of Schedule 1. Part II, 24h
The dialog box will NOT take any amounts. Neither will any of the other fields. What am I not doing or how should I proceed to record attorney fees for a discrimination claim?
Please help!!!
Thank you but my screen looks different. It may be that Im using a Mac however
when I go into the forms vs easy step - I see the 1040/1040SR Wks ... BUT I can't right click on it
Have you tried entering your legal fees in the interview mode?
On the Income Topics page, scroll all the way down to Other Miscellaneous Income, 1099-A, 1099-C.
On the next page, scroll all the way down to Other Reportable Income.
Do you have any other taxable income? Yes
Enter a description and the amount as a negative number.
I have the same question. Is there any way to do this with TurboTax online? I don't have the desktop version.
The prompts in TurboTax Online are very similar to those posted above.
- On the Income & Expenses page, scroll all the way down to Miscellaneous Income, 1099-A, 1099-C. Choose Add/Edit.
- On the next page, scroll all the way down to Other Reportable Income. Choose Start/Revisit.
- If you have already entered other Misc Income items, choose 'Add another income item', or if not, you'll be asked 'Do you have any other taxable income?' Yes
- Enter a description and the amount as a negative number.
Remember that legal fees are only deductible now for discrimination settlements.