KEYWEST_RICKS Posted March 26, 2018 Report Posted March 26, 2018 Client received a settlement as part of class action against a tech institute along the same lines as the case against Trump University. The majority of which was used to pay of his student loan dept. You all are with me correct that this is taxable income. He received a 1099 and I don't see that there is anything that lets me report this as non taxable income. jeff Quote
Abby Normal Posted March 26, 2018 Report Posted March 26, 2018 Unfortunately, it's taxable. Can they put money into an IRA? Quote
KEYWEST_RICKS Posted March 26, 2018 Author Report Posted March 26, 2018 YES.... IRA BUT ANOTHER THING I BELIEVE HIS STUDENT LOAN INTEREST PAID WITH THIS TAXABLE MONEY IS GOING TO BE LIMITED Quote
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