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Since the bonuses are already included in Box 1 of the W-2, entering them separately would cause them to be taxed twice. You should not enter any bonus information on any other screens.
If your W-2 states how much you received in bonus payments and how much you received for your regular salary or wages, that is for your information only and does not have to be separated into different categories on your tax return.
For tax purposes, it is all treated the same. Box 1 of your W-2 should include both your regular salary and any bonuses that your company has given you during the year.
So when filing do I select that I've received no bonuses or select bonuses? If I select bonuses won't I then be asked to enter the amount of bonuses that I received each quarter?
Since the bonuses are already included in Box 1 of the W-2, entering them separately would cause them to be taxed twice. You should not enter any bonus information on any other screens.
If your W-2 states how much you received in bonus payments and how much you received for your regular salary or wages, that is for your information only and does not have to be separated into different categories on your tax return.
Where does it ask if you got bonuses? Where do yo see that in Turbo Tax?
Last year I received only one small one since I changed job positions near the end of the year, and I wasn't sure, so I replied no. I just remember it asking me to select one or the other and I chose no bonuses so I'm not sure where it would have led me if anywhere. I just knew I needed to ask before I started this year.
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