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Level 2
March 12, 2022
Question

Where do I list information for a severance package?

  • March 12, 2022
  • 2 replies
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Where do I   list my severance package?

2 replies

LeonardS
Level 14
March 12, 2022

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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Level 2
March 12, 2022

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?

DoninGA
Level 15
Level 15
March 12, 2022

@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.

Level 10
March 12, 2022

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.