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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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Accepted Solutions
ChristinaS
Expert Alumni

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.

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.

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1 Reply
ChristinaS
Expert Alumni

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.

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.

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