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Wrongful Death Settlement

Level 2

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. 

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3 Comments 3
Level 15

What program are you using?

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

Level 2

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!

Level 15
Level 15

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.