Hi all, can I add my signing bonus I received in 2020 to earned income? I don't have a W2 for 2020 because I started in 2021 but got my signing bonus early. How do I add?

[jkooley]

How do I add my signing bonus so that I don't have to have a penalty on my Roth IRA contributions? I had unemployment all of 2020 and got a job offer which I signed at the end of December. I got a signing bonus with my signing of the job but I did not start the job until late February of 2021 so I have no W2 for 2020. How do I add this as earned income?

[macuser_22]

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@jkooley wrote:
How do I add my signing bonus so that I don't have to have a penalty on my Roth IRA contributions? I had unemployment all of 2020 and got a job offer which I signed at the end of December. I got a signing bonus with my signing of the job but I did not start the job until late February of 2021 so I have no W2 for 2020. How do I add this as earned income?

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2021 income can only go on a 2021 tax return.

If you have an excess Roth contribution then if you filed on time for 2020 or filed for an extension, you have until Oct 15 to have the excess plus any earnings returned to you without penalty.

[Hal_Al]

If you actually got the money, in December, try talking to your employer about issuing a 2020 W-2 for that amount.  There are ways to work around this in TurboTax, but, it'll get messy next year if they include it on your 2021 W-2.  That would be the 2nd question to ask your employer, will it be on your 2021 W-2, including FICA withholding.