- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
What program are you using?
Is this on a 1099-MISC (it probably should be)?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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♥¸¸.•*¨*•♫♪