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Get your taxes done using TurboTax
You will need to report the W-2 as you have done, then make an entry to Other Income for a negative amount to cancel out the income. You can do this as follows:
Choose the Federal option on your left menu bar
- Choose Wages & Income
- Find Less Common Income in the list of income sources
- Use the Show More option to expand the choices and choose Miscellaneous Income, 1099-A, 1099-C
- Choose the Other Reportable Income option and find Other Taxable Income in that section
- Enter a description for your adjustment and the amount as a negative number
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March 15, 2023
12:26 PM