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Where do I list information for a severance package?

Where do I   list my severance package?
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4 Replies
LeonardS
Expert Alumni

Where do I list information for a severance package?

Could you please clarify what was in your severance package in order to assist you with where to enter it in your tax return?  Thank You.

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Where do I list information for a severance package?

If you received in 2021 it should be part of your W-2.  if it is not contact your employer for documentation that you can use on your tax return.  It is taxable federally, may be tax exempt in some states.

 

Where do I list information for a severance package?

I have received a severance package on last year. I paid lots of taxes on it. Where do I list that information on the return?

Where do I list information for a severance package?


@taxeskh2021 wrote:

I have received a severance package on last year. I paid lots of taxes on it. Where do I list that information on the return?


The severance payment should already be included on your W-2 box 1 with the federal taxes withheld in box 2.

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