turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have entered my 1099 misc from a settlement. It is not asking me if this was a uncommon situation. Where can I claim attorney fees from this lawsuit?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DDollar
Expert Alumni

I have entered my 1099 misc from a settlement. It is not asking me if this was a uncommon situation. Where can I claim attorney fees from this lawsuit?

You can deduct the fees related to a taxable settlement as a Miscellaneous Itemized Deduction.  Miscellaneous Itemized deductions are subject to the 2% rule, which means you can only deduct the amount of Miscellaneous Deductions that exceed 2% of your adjusted gross income.  To enter in TurboTax Self-Employed, while logged in and working in your return:

  • Click on Search
  • Type in "Itemized Deductions"
  • Click on "Jump to Itemized Deductions"
  • Click on "I'll choose what I work on"
  • Scroll down to the bottom of the page. 
  • Under "Other Deductions and Credits" select Legal Fees and click Start
  • Answer Yes, the enter your Legal Fees



View solution in original post

1 Reply
DDollar
Expert Alumni

I have entered my 1099 misc from a settlement. It is not asking me if this was a uncommon situation. Where can I claim attorney fees from this lawsuit?

You can deduct the fees related to a taxable settlement as a Miscellaneous Itemized Deduction.  Miscellaneous Itemized deductions are subject to the 2% rule, which means you can only deduct the amount of Miscellaneous Deductions that exceed 2% of your adjusted gross income.  To enter in TurboTax Self-Employed, while logged in and working in your return:

  • Click on Search
  • Type in "Itemized Deductions"
  • Click on "Jump to Itemized Deductions"
  • Click on "I'll choose what I work on"
  • Scroll down to the bottom of the page. 
  • Under "Other Deductions and Credits" select Legal Fees and click Start
  • Answer Yes, the enter your Legal Fees



Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question