Started a job December 16th, got first pay December 31st, do I file taxes for it this upcoming tax season?

[Anonymous]

Basically, in this almost done year (2019), I had a job from April to June, then another from June to mid-December, both of which were a contract role, hourly rate where I'm paid every two weeks. In mid-December I quit my job and started a new full-time role.

My first paycheck for the new role was on the 31st of December 2019 (Paycheck issues and money was deposited into my account on the same day). I know for a fact that in this upcoming tax season I will be filing taxes for the first two jobs I held in 2019. But do I need to file taxes for this recently started one? If yes, then that means I will be filing taxes on a single pay period. Is there a definitive answer to this?

* Not sure if relevant, but I have also updated my W-4 on December 30th.

TL;DR: Started new job Dec15th, got paid 1st time Dec 31st. Do I file taxes for that on the very upcoming tax season?

[Vanessa A]

Yes, you will include your pay received on 12/31 on the 2019 tax return. 

If this was your only job of the year and you had no other income, you may not need to file a return at all.  If you earned less than your standard deduction ($12,200 if you are single), then you would not need to file a return. However, if your employer withheld taxes from your pay or if you are eligible for the Earned Income Tax Credit, then you may still want to file to get a refund. 

[Anonymous]

your "last" employer will send you a 2019 w-2 by 1/31/2020 which must be included on your 2019 return.  you file one 1040 for both your contract work - reported on schedule C and your W-2.     if your contract work netted over $400 you must file a return because you'll  owe self-employment tax.       

[VolvoGirl]

Ask your employer if the 12/31 pay will be on a 2019 W2 or be considered a payment in January 2020.  Sometimes the last pay period of the year is paid in January even if you get the deposit a couple days early.  They have until Jan 31 to give you a 2019 W2.

Were your other jobs on a W2 or a 1099Misc?  Did they take taxes out of your pay?  Do you need info on filing a schedule C for Contract Labor 1099Misc?

[Anonymous]

Thanks @VolvoGirl.

So is it essentially up to my employer to decide whether to count the pay on the 2019 W2 or the 2020 W2, or is it based on a pre-established schedule my employer has on where that specific pay falls (in other words is this something I can negotiate with my employer)?

The other jobs were on a W2. They did take tax out of both. When I file, I will be adding 2 W2s to my tax return - possibly 3 depending on that last pay.

Thanks again.

[Anonymous]

I see, thanks for the insight @Vanessa A. It's not my only job as I stated I had 2 W2 jobs, from April to June and from June to December, prior to this one which I just started.

[Anonymous]

@Anonymous I don't think it should be reported on schedule C. By contract I meant it was a short time gig, working as a consultant for a company at a client's site. Basically I had an employer who paid me hourly. That means it doesn't file on schedule C, am I correct? My phrasing was probably confusing. Thanks for your insight!

[VolvoGirl · Accepted solution]

Yes you might have 3 W2s to enter into your return.  You tax return is based on your total income for the year not time worked.  

The W2 is for what you were actually paid in 2019, not when you worked.  So as I said the last time period you worked in December might be actually paid and dated the first week of January (even if you got it in Dec).  Like my husband gets paid on Jan 1 for December even though he gets the Direct Deposit a couple days earlier in Dec.  Ask your employer or wait and see if you get a W2 for it.