We had to pay out approx $6000 to the clerk of court to be then paid to the defendant on a small claims case in which we lost. We were suing a client for money owed.
Two questions:
1) Do we need to send a 1099 to the client or would the court send one or is it not necessary at all?
2) How and where do we write this amount off on our taxes or can we? Which tax line on Schedule C, 1040, or some other form?
Asked on 1/29/10, 11:15 am
1 Answer from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Your questions are primarily how to complete the appropriate paperwork and complete your tax forms. They need to be directed to a CPA.
Answered on 2/03/10, 11:38 am
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