Poltax75
Level 3

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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