in Education
My spouse received this form for a settlement on a lawsuit. Only box 14 is filled in on this form. When I try to enter the information in "Wages and Income" then under "Other Common Income" it assumes I am self-employee (I am not) and takes me down the road of creating a Schedule C form business name.
How do I report this income without creating a Schedule C?
Thank you
You'll need to sign in or create an account to connect with an expert.
You do not report this amount it is not income you have received. The amount in Box 14 is the fee paid to the attorney.
The IRS instructions for Form 1099-MISC box 14 states that
"...Box 14. Gross Proceeds Paid to an Attorney Enter gross proceeds of $600 or more paid to an attorney in connection with legal services (regardless of whether the services are performed for the payer)..."
You do not report this amount it is not income you have received. The amount in Box 14 is the fee paid to the attorney.
The IRS instructions for Form 1099-MISC box 14 states that
"...Box 14. Gross Proceeds Paid to an Attorney Enter gross proceeds of $600 or more paid to an attorney in connection with legal services (regardless of whether the services are performed for the payer)..."
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ssptdpt
New Member
in Education
ly70
New Member
caseyperkins
Level 1
SD2025
Level 1
mspit
Level 1