- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i handle severance pay reported on my w2. my income went sky high because of severance pay which is taxed. a lot from my severance pay went to my taxes. help!
Topics:
posted
May 31, 2019
5:41 PM
last updated
May 31, 2019
5:41 PM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
5 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i handle severance pay reported on my w2. my income went sky high because of severance pay which is taxed. a lot from my severance pay went to my taxes. help!
Is this military severance pay from a medical retirement? If so, do you have your VA rating yet?
May 31, 2019
5:41 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i handle severance pay reported on my w2. my income went sky high because of severance pay which is taxed. a lot from my severance pay went to my taxes. help!
thank youit is not a severance pay from a medical retirement. my former employer died and i got a severance pay.
May 31, 2019
5:41 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i handle severance pay reported on my w2. my income went sky high because of severance pay which is taxed. a lot from my severance pay went to my taxes. help!
If you received severance pay, including payment for unused vacation or sick days, those
amounts are fully taxable as income. Those amounts will be
included on the W-2 form you receive from your former employer. They are
not tax deductible.
May 31, 2019
5:41 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i handle severance pay reported on my w2. my income went sky high because of severance pay which is taxed. a lot from my severance pay went to my taxes. help!
Do i need to report what is my regular earnings from what i have received as a severance pay?
May 31, 2019
5:41 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i handle severance pay reported on my w2. my income went sky high because of severance pay which is taxed. a lot from my severance pay went to my taxes. help!
All of your income from that employer should be on your W2 and you report that W2 as a single W2 for the year. You can find more info on job separation in this IRS publication: <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/p4128.pdf">https://www.irs.gov/pub/irs-pdf/p4128.pdf</a>
May 31, 2019
5:41 PM
Still have questions?
Make a post