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I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

The W2 shows what I made collectively all year.  Do I need to sort out my bonuses or just mark it all as wages?
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1 Best answer

Accepted Solutions
RaifH
Expert Alumni

I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

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. 

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5 Replies
RaifH
Expert Alumni

I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

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. 

I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

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?

RaifH
Expert Alumni

I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

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. 

I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

Where does it ask if you got bonuses?  Where do yo see that in Turbo Tax?

I get quarterly bonuses based off what my company sells, but I don't see anywhere on my W2 that states this. Do I file it as bonuses or regular wage?

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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