Poltax75
Level 3
08-19-2024
01:39 PM
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My Client received a Legal Settlement for destroyed Lab facilities associated with his LLC.
The settlement was issued to his personal TIN on a 1099-Misc with box 3 showing the amount.
He has legal fees associated with the settlement paid by his LLC
Can I show the 1099 MISC on Schedule C with an explanation?
May not be able to get a new 1099-Misc with the correct information.
Thanks
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