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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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How much taxes is paid on a $17000.00 employment ...

Customer Question

How much taxes is paid on a $17000.00 employment discrimination settlement
Submitted: 10 years ago.
Category: Tax
Expert:  RD replied 10 years ago.

Settlement for Employment discrimination are taxable and should be reported as "Other Income" on line 21 of Form 1040. The tax rate will depend fon various factors including your overall taxable income, filing status, number of dependents.

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Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases.