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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.
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.
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?
@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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