1099-MISC from lawsuit settlement I just received a 1099-misc form due to some settlement agreements. So for this 1 out of 3 agreements it is a total of $4500 sent to the lawyer. The lawyers sent me a check for $1000 so the rest was for lawyer fee's. On the 1099 form it just has the full amount in box 14 (gross proceeds paid to an attorney), of 4500. The settlements were from suing under the FCRA when my identity was stolen so it was not a personal injury case or anything that I know is not taxable. What I want to know is If I will be taxed for the full amount of the settlement, and if so possibly pay more in taxes then I receive from the settlements? Wouldn't want to keep letting them sue people if I get stuck with all the taxes somehow and end up in debt.
Last edited by TooShort665 : 02-04-2014 at 01:40 AM.
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