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Reporting attorney proceeds from a class action suit
July 16, 2021
Q. I understand that attorney proceeds get reported to the attorney and is also included on the claimant's 1099 as well. Does this still get added to the claimant's 1099 if the plantiff was on behalf of herself and all others similarily situated? Would this main plantiff get the attorney proceeds on her 1099 even though others will get part of the settlement through a W-2? It seems to me that everyone benefited from the attorney fees, so I'm not sure one person gets those fees reported to…
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