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ksorvetti
New Member

I lost the 1099 for the payout of a lawsuit. I know how much i was paid. Can i report the proceeds as additional income?

What will I need to add this information to Turbo Tax filing?
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1 Reply
LindaS5247
Expert Alumni

I lost the 1099 for the payout of a lawsuit. I know how much i was paid. Can i report the proceeds as additional income?

You should ask the issuer of your Form 1099 to reissue you the form.  You will have to report this as income. Depending on what Form 1099 you received.

 

If it was a Form 1099-MISC, you can use the instructions below to add it to your tax return.

 

Form 1099-MISC is used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments during a calendar year.

 

To enter a Form 1099-MISC into TurboTax you can:

  1. Click on the "Search"  icon
  2. Enter "1099-MISC" in the search box  
  3. Select "Jump to form 1099-misc"
  4. It will take you to a screen that says, "Did you get a 1099-MISC?
  5. Select "Yes"
  6. Enter your Form 1099-MISC information.  If your 1099-MISC has entries in boxes 4-18, make sure to check the box that says "My form has other info in boxes 1-18"
  7. Select "Continue"
  8. Enter a description for you r paid family medical leave 
  9. The next screen will say, "Does One of These Uncommon Situations Apply"?  If none apply, select "None of these apply" and "Continue"
  10. Your screen will say, "Did the "XXX XXXX" involve work that's like (Your Name) main job?" Answer "No"
  11. Your next screen says, "How often did (Your Name) get income for XXX XXXX?" Select (Your Name) got in 2024. "Continue"
  12. "Did the paid family leave involve an intent to earn money?"
  13. Answer "No" and "Continue,"

If you believe your Form 1099-MISC was issued incorrectly, you should talk to the issuer of your form and get a corrected Form -1099-MISC if necessary.

 

Click here for Publication 525 (2024), Taxable and Nontaxable Income

 

Click here for additional information on entering your Form 1099-MISC.

 

Click here for additional information on Form 1099-MISC.

 

Click here for additional information on Schedule 1.

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