Do I claim my srb payment on my tax returns?

njasso60 · ‎January 22, 2020

xmasbaby0 · ‎January 22, 2020

"srb?" What is that?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

blevi · ‎January 25, 2020

If you re-enlisted or extended while in a combat zone, your SRB is tax-free and does not need to be included on your tax return. Otherwise, it is taxable income and you will receive a W-2 reporting the information (or it may be included on the W-2 with your regular pay). If the bonus was included as income on your W-2 and you've already entered that W-2, then no further input is required.

Depending on your other income and your tax rate, you may receive a refund of some of the taxes withheld.

If it is tax-free, please double-check your W-2 to be sure it hasn't been included in error.

Do I claim my srb payment on my tax returns?