turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
turbotax icon
turbotax icon
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 received a 1099-MISC for a lawsuit settlement in regards to back wages, but should I claim in under back wages on my taxes?

I was given a W2 for back wages in a DOL settlement, and an equal amount in liquidated damages that was reported on a 1099-MISC. Since I already claimed the W2 for the actual back wages, should I be checking the box that states this 1099 for liquidated damages is from back wages? It would reduce my return.
Connect with an expert
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
Hal_Al
Level 15

I received a 1099-MISC for a lawsuit settlement in regards to back wages, but should I claim in under back wages on my taxes?

Answer no to the back wages question. Back wages, and the FICA tax that goes with it,  were already covered on the W-2.

View solution in original post

4 Replies
Hal_Al
Level 15

I received a 1099-MISC for a lawsuit settlement in regards to back wages, but should I claim in under back wages on my taxes?

What box # on the 1099-misc is the $ in?

I received a 1099-MISC for a lawsuit settlement in regards to back wages, but should I claim in under back wages on my taxes?

Box 3. I know I have to claim it, but my question is this: Turbo tax asks me if this money was from a lawsuit settlement? I check that box. It then asks me if the amount was part of back wages--Yes or No. If yes, it asks the amount. The money from back wages was given to me as a W2. This income is from liquidated damages. Should I check Yes or No?
my2rats
New Member

I received a 1099-MISC for a lawsuit settlement in regards to back wages, but should I claim in under back wages on my taxes?

My income is in 14, Gross Atty fee
Hal_Al
Level 15

I received a 1099-MISC for a lawsuit settlement in regards to back wages, but should I claim in under back wages on my taxes?

Answer no to the back wages question. Back wages, and the FICA tax that goes with it,  were already covered on the W-2.

Manage cookies