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lisa-ostman
New Member

I received a 1099-MISC for a severance payment is that the right form?

this payment was received the end of 2017 for a lump sum payment.
1 Reply
Opus 17
Level 15

I received a 1099-MISC for a severance payment is that the right form?

No. All compensation for an employee, including severance, should be on your W-2, and the employer is responsible for their share of social security and medicare.

Ask them to correct the W-2.

If they won't, when you enter the 1099-MISC there is check box for "this was for wages from my employer that should have been on a W-2" and you will be taxed correctly.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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