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Old 12-24-2005, 03:26 AM
Luv2DriveTT Luv2DriveTT is offline
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Join Date: Apr 2004
Location: USA
Posts: 3
Default Tax question for OOT

In 2005 I won a legal settlement where each month money would be sent to my attorney's bank account in trust for me. He would then take out his legal fee and send me a check for the balance from his account.

1) Does my attorney send me a 1099? Even though the attorney holds the fee in trust, is that considered income for him as well?
2) Does the company I won the settlement from send me a 1099, or do they send the attorney the 1099?
3) My legal fees collected from the winnings are significantly large (1/3). Do I have to send my attorney a 1099?

Thanks for the tax advice OOT!

TT [img]/images/graemlins/club.gif[/img]
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