Wrongful Death Settlement

Forum|Forum|2 years ago
August 22, 2023
1 reply
11 views

The taxpayer received a settlement, which I've currently listed as 'Taxpayer other income not subject to SE tax'. This amount really should go on 1040 Sch1 Line 8z. I don't see where I can list the amount of tax withheld in order to reflect that tax has been taken out.

Intuit Tax Advisor

This topic has been closed for replies.

T

TaxGuyBill

Level 15

What program are you using?

Is this on a 1099-MISC (it probably should be)?

T

TributosAuthor

Level 3

They haven't provided a form yet were advised of the estimated amount and just received the net proceeds. I expect to see 1099 later. I listed the tax w/h on Additional Tax Pmt 1 under the ESTIMATED TAX PAID AND PRIOR YR OVERPMT. the Gross Proceeds I currently have under 'Taxpayer other income not subject to SE tax'

Curious if there are better sections to list these. Thanks!

Just-Lisa-Now-

Intuit Community Champion

if theres tax withheld, you'll see a 1099MISC at some point, just use the 1099MISC worksheet for the entries and the software will funnel everything to where it goes.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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