You'll need to sign in or create an account to connect with an expert.
Where you enter a taxable legal settlement depends on whether it was reported on a Form 1099-MISC or not. Note that interest earned on settlements is taxable income and should be entered as a Form 1099-INT.
To enter a settlement reported on a 1099-MISC:
To enter a settlement not reported on a 1099-MISC:
Note: If
using the TurboTax CD/Download software, you'll use the Find function (instead
of "My Account") to search for the topic.
Please see the FAQ below for more information.
Are legal settlements taxable? https://ttlc.intuit.com/replies/4787698
Where you enter a taxable legal settlement depends on whether it was reported on a Form 1099-MISC or not. Note that interest earned on settlements is taxable income and should be entered as a Form 1099-INT.
To enter a settlement reported on a 1099-MISC:
To enter a settlement not reported on a 1099-MISC:
Note: If
using the TurboTax CD/Download software, you'll use the Find function (instead
of "My Account") to search for the topic.
Please see the FAQ below for more information.
Are legal settlements taxable? https://ttlc.intuit.com/replies/4787698
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
sls3547
New Member
gdukic3
New Member
User 5012232
Returning Member
reljjl1
Returning Member
barefootheart
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.