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Returning Member
posted Sep 28, 2022 9:25:48 AM

BONUS AT WORK BEING TAX DEDUCTABLE

Hi!

I work as an independent contractor, and received a bonus from a client. Do I need to report this bonus as regular income that will be taxed, or is that not necessary?

 

Thank you!

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2 Replies
Level 15
Sep 28, 2022 9:28:10 AM

All income received is reported on a tax return.  If you are self-employed then you report the bonus as income.  If the bonus is not reported to you on a Form 1099-NEC then you report the bonus as Cash income.

Level 15
Sep 28, 2022 9:29:16 AM