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February 15, 2023
Question

I have a 1099 misc but I did not receive all of that income

  • February 15, 2023
  • 1 reply
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lawsuit but didn't get the amount being reported

1 reply

February 15, 2023

If the settlement was different than the amount on the Form 1099-MISC then please request a corrected form, as this was reported to the IRS and they will be looking to match the numbers on your return. 

The form may include any expenses and attorney's fees which were paid before you received your portion. 

When you have the correct Form 1099-MISC, this is where to enter in TurboTax:

  1. Sign in to TurboTax and open or continue your return
  2. Search for 1099-misc and select the Jump to link
  3. If you're asked Did you get a 1099-MISC?, answer Yes
  4. If you've already entered a 1099-MISC, select Add Another 1099-MISC
  5. Enter the information from your 1099-MISC and select Continue
  6. On the Describe the reason for this 1099-MISC screen,
    enter lawsuit settlement and select Continue
  7. On the Does one of these uncommon situations apply? screen, select This was money from a lawsuit settlement and then answer the back wages question before selecting Continue