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Received a 1099 Misc for a vacation payoff that was paid the year after employment ended. Is this correct?

Left employment in November 2015. Payment for accrued unused vacation was not made until February 2016. The company sent me a 1099 Misc for the vacation payoff. I did NOT receive a W2 from them for 2016 as I was not employed by them then. Should this have been paid on a W2? If so, how do I enter this in Turbo Tax Premier? If not, how do I enter this in Turbo Tax Premier as non of the options pertain to vacation payoff?

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TomD8
Level 15

Received a 1099 Misc for a vacation payoff that was paid the year after employment ended. Is this correct?

You're right, you should have been issued a W-2.  Compensation for unused vacation days is considered wages subject to withholding. 

Enter your 1099-MISC in the 1099-MISC section, which is under Other Common Income. When you go through the follow-up questions you'll come to the page headed "Do any of these uncommon situations apply?"  One of the choices is that your employer reported the income on a 1099-MISC that should have been reported on a W-2.  Check that box and proceed on.

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

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1 Reply
TomD8
Level 15

Received a 1099 Misc for a vacation payoff that was paid the year after employment ended. Is this correct?

You're right, you should have been issued a W-2.  Compensation for unused vacation days is considered wages subject to withholding. 

Enter your 1099-MISC in the 1099-MISC section, which is under Other Common Income. When you go through the follow-up questions you'll come to the page headed "Do any of these uncommon situations apply?"  One of the choices is that your employer reported the income on a 1099-MISC that should have been reported on a W-2.  Check that box and proceed on.

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