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Level 1

Question

How can I account for a $10k bonus I received which appeared on my paycheck (under wages in my W-2) and was taxed at a rate higher than the 22% flat rate?

Forum|Forum|7 years ago
June 1, 2019
1 reply
1 view

I believe this will reduce my owed tax but can't identify the proper place to indicate it in turbotax. The 22% flat rate is noted here: https://turbotax.intuit.com/tax-tips/jobs-and-career/how-bonuses-are-taxed/L7UjtAZbh

TurboTax Deluxe Online

Level 13

It is not taxed at a flat 22%.

The withholding (income tax that comes out of your paycheck) on a bonus could be subject to a flat 22%, regardless of your actual tax bracket, but the tax return still taxes that income at your regular tax rate.