Should deferred compensation be reported as W2 or 1099 Misc? I received a W2 but want to ensure I don’t pay social security tax again. SS tax was paid when income earned.
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1 Best answer
ChristinaS
Expert Alumni
May 31, 2019 9:56:19 PM
W2.When you have a W2, your tax return doesn't add payroll tax back on to your return. This could only happen if you got a 1099-MISC, as that leads to Self-Employment tax.
It would be a problem if you got a 1099-MISC, so its good that you didn't.
1 Replies
ChristinaS
Expert Alumni
May 31, 2019 9:56:19 PM
W2.When you have a W2, your tax return doesn't add payroll tax back on to your return. This could only happen if you got a 1099-MISC, as that leads to Self-Employment tax.
It would be a problem if you got a 1099-MISC, so its good that you didn't.