How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Patrick, Esq. Your Own Question
Patrick, Esq.
Patrick, Esq., Lawyer
Category: Employment Law
Satisfied Customers: 11706
Experience:  Significant experience in all areas of employment law.
Type Your Employment Law Question Here...
Patrick, Esq. is online now
A new question is answered every 9 seconds

I will be getting a lump sum settlement from a mediated claim

Customer Question

I will be getting a lump sum settlement from a mediated claim and it said in the settlement that a w2 and a 1099 will be issued. Will I need both forms for taxation on this settlement?

Submitted: 1 year ago.
Category: Employment Law
Expert:  Patrick, Esq. replied 1 year ago.
Hello and welcome.
Yes, you will need all forms that are used to issue your payments when it comes time to pay your taxes next year. Is that what you mean to ask? Please let me know if I can clarify anything.
Customer: replied 1 year ago.

I thought that I would get either a w2 form or a 1099 at the end of the year, not both, right?

Expert:  Patrick, Esq. replied 1 year ago.
What forms of damages are you recovering (ie back wages, emotional distress, etc.)?