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- IS A SETTLEMENTFROM A CLASS ACTION LAWSUIT (LOSS IN PREVIOS YEAR) TAXABLE AS THEY GOT A 1099-MISC FOR LITTLE OVER $600.CAN YOU JUST ZERO IT OUT ON D SOMEHOW OR DO THEY HAVE TO REPORT FULL AMOUNT
IS A SETTLEMENTFROM A CLASS ACTION LAWSUIT (LOSS IN PREVIOS YEAR) TAXABLE AS THEY GOT A 1099-MISC FOR LITTLE OVER $600.CAN YOU JUST ZERO IT OUT ON D SOMEHOW OR DO THEY HAVE TO REPORT FULL AMOUNT
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1 Comment 1
itonewbie
Level 15
04-09-2020
02:26 PM
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On what basis do you believe the award from a class action lawsuit should not be taxable?
What loss are you referring to?
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