Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Feb 6, 2023 1:58:41 PM

1099 MISC amount payor settlement

I have a lawsuit settlement as a defendant and I paid 50% of the award and my insurance company paid 50% of the award to the plaintiff.  In my 1099 MISC to the plaintiff, what is the amount I should put down?  100%or 50%? The settlement does not breakdown the percentage awarded in each charge.  thank you.

0 1 404
1 Replies
Expert Alumni
Feb 6, 2023 3:08:54 PM

The amount you paid. The insurance company should also be sending one.

See Instructions for Forms 1099-MISC and 1099-NEC, Miscellaneous Income and Nonemployee Compensation