I get a monthly bonus every month that is taxed along with my hourly paycheck. They are taxed together, do I need to do anything differently on my tax return this year?

Forum|Forum|6 years ago
January 23, 2020
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VolvoGirl

Level 15

Nope. It will all be included on your W2 you get.

wwheat12Author

Level 2

It's included in my total wages so how can I claim it on my w2 ? Am I going to owe taxes on all my bonuses since they were taxed together with my paycheck and not separately?

VolvoGirl

Level 15

You get the W2 from your employer. It will be for the total of everything for the whole year. Just enter the W2 exactly as shown into your return. Box 1 is the total income they paid you. Box 2 will be the total tax withholding they took out for both your pay and bonus.

It is not separated out on your tax return. You enter all your income and pay tax on the total income for the year. Whether you get a refund or owe more tax depends on your total income and how much withholding was taken out and if you qualify for any credits. You have to fill out your 1040 tax return to see how it ends up.