It will be calculated along with everything else on your tax return, and will affect your refund or amount of tax due at tax time. The software will calculate it when you enter your W-2 with the data that is on it. In other words, you have $5000 of untaxed income now--it will be taxed when you prepare your tax return.
**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.**
