[lbo-talk] tax question...

123hop at comcast.net 123hop at comcast.net
Sun Apr 10 23:41:38 PDT 2011

Last year I was part of a class action suit against my ex, ex, employer & won. The payoff was split into a "wage" part, which was taxed and an "interest" part, which was not taxed.

Does anyone have any idea if the interest part is taxable? I got a 1099 describing this interest and further splitting it into an amount as 1099-interest and an amount as 1099-other. The class action suit was based on the failure of my employer to pay overtime.

I would normally assume that the interest was taxable; what puzzles me is that the interest amount is nearly equal to the wages amount, which seems unlikely.

If you actually know the answer to this question I'd be happy to pay you for your superior skills.

The answer makes a big difference financially.

Thanks much,


And now I turn to the Alternative Minimum Tax form. As Shag would put it: "Fuck me dead!"

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