I received a check due to a lawsuit filed against my former employer. Where do I submit this information?
I received a check for a Gross Settlement amount of $2,510.03. Wages were$1,226.17, 1099 MISC were $1,2510.03. Total deductions were $503.34 and Net Wages were $722.83. Were do I submit this information?
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1 Replies
SharonD007
Expert Alumni
Apr 8, 2025 4:18:52 PM
Non-injury settlements are considered other taxable income. You should receive a Form 1099 if your settlement is taxable. You will be taxed on the income based on the tax bracket that you fall in and the federal income tax rates.