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Patrick, Esq.
Patrick, Esq., Lawyer
Category: Employment Law
Satisfied Customers: 11250
Experience:  Significant experience in all areas of employment law.
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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.
Best,
Patrick
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.)?