If I received a settlement for $50000 but after attorney's fees and dues I only got $27,000. Do I put down only the 27,000 or 50000?

[20seventeen]

The settlement was for wrongful termination and at the time of settlement it was agreed that the other party would pay it so it wouldn't be considered wages. Does that make sense? I put on my return as miscellaneous income but do I need to put in a different way or category do I don't have to pay as much tax? My settlement was $27,000 and from what I'm seeing I'm having to pay around $6,500 in taxes. Ouch!

[RichardG]

You should report the full $50,000 as miscellaneous income.  There is no other category that will lower your taxes on this income.  Then, take a deduction for legal fees for $23,000 under the heading Federal Taxes>Deductions & Credits>Other Deductions & Credits>Legal Fees.