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ericschen
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Where should I input the previous company severance package (got laid off in 2017)? They gave me several checks and also one W2 form for the days I worked. Thanks.

 
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MichaelDC
New Member

Where should I input the previous company severance package (got laid off in 2017)? They gave me several checks and also one W2 form for the days I worked. Thanks.

Severance pay should be reported (and entered) as part of your W-2 wages.  Severance pay, including unused personal time payments, are fully taxable.  This means that you should have received a W-2 that included these wages.  If you received the severance in 2018, you'll get the W-2 next year. If you did not receive a W-2 that included all severance pay, contact your employer and request a corrected W-2.

If you have additional questions or details regarding this, please feel free to post in the comments for further clarification.

Note:  More details on this topic can be found in the information below.

Self-Employment-Taxes/10-Tax-Tips-for-the-Suddenly-Unemployed




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