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cammsp
New Member

Recieved both W-2 and 1099 Misc from for the exact same amount for a settlement. If I enter both, Turbo Tax addes them both as income. How do I stop this from doubling?

 
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2 Replies
MarilynG1
Expert Alumni

Recieved both W-2 and 1099 Misc from for the exact same amount for a settlement. If I enter both, Turbo Tax addes them both as income. How do I stop this from doubling?

Enter your W-2 as shown.

 

When you enter your 1099-Misc, you can indicate it is a lawsuit settlement, so it isn't counted as 'self-employment' income for Schedule C. 

 

Then, in Wages & Income, scroll down the topic list to the very last item, 'Miscellaneous Income, 1099-A, 1099-C'.

 

On the next page, scroll all the way down to 'Other Reportable Income'.

 

Under 'Other Taxable Income' enter a description of Lawsuit Settlement Adjustment and the amount on your 1099-Misc as a negative amount. 

 

@cammsp 

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cammsp
New Member

Recieved both W-2 and 1099 Misc from for the exact same amount for a settlement. If I enter both, Turbo Tax addes them both as income. How do I stop this from doubling?

Thank you for the reply.  Success.  I was missing the last step.

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