1099-NEC for Severance Pay?

horselover · Jan 23, 2021 6:09:55 PM

<P>I received a 1099-NEC (?) for severance pay from a previous employer. How is this taxed? </P>

Your employer should have issued you a W2 form and withheld the proper FICA taxes. In order to resolve this issue, you must file a Form 8919. See HERE https://www.irs.gov/pub/irs-pdf/f8919.pdf . Also check this link on where to input the information on Turbotax HERE https://ttlc.intuit.com/community/taxes/discussion/where-do-i-enter-form-8919/00/547895

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