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UPDATED FOR TAX YEAR 2019
To add another W-2 in TurboTax, please follow these steps:
- Click on Federal Taxes > Wages & Income [In TT Self-Employed: Personal > Personal Income > I'll choose what I work on].
- Under Wages and Salaries, click on the Update box.
- You will see the screen, Here's your W-2 info.
- Click on the Add a W-2 link. If you are filing jointly, you will see an Add a W-2 link for you and your spouse. Make sure you click the right one.
- Continue through the interview, entering the information on your additional W-2.
Legal settlements are reported as "Other Taxable Income."
You may or may not receive a 1099-MISC reporting the income. Regardless, this is how you should enter it in TurboTax:
- Click on Federal Taxes > Wages & Income [In TT Self-Employed: Personal > Personal Income].
- Scroll down to the Other Common Income section and click on the Start/Update box next to Income from Form 1099-MISC.
- If you previously entered a 1099-MISC. in your return, you will be brought to the 1099-MISC Summary page. Click on the Add Another 1099-MISC. box to add a new form [or Edit to change an existing form].
- If you haven't already entered a 1099-MISC, answer Yes to the question Did you get a 1099-MISC? (even if you didn't get one).
- On the Let's get the info from your 1099-MISC screen, complete the top part and then enter the award amount in Box 3 Other Income.
- Fill out any other boxes from your paper 1099-MISC (if you have one), then click Continue.
- Enter a reason for the 1099-MISC.
- On the screen, Does one of these uncommon situations apply? select This was money from a lawsuit settlement and then answer the back wages question before clicking Continue.
If this information does not answer your question, please respond to this answer string with additional information.
[Edited | 4/3/2020 | 12:37pm PDT]
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