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Taxes On Signing Bonus

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GkwofAtl

Guest
My employer paid me a sign on bonus and issued me a check separate from my regular paycheck. At the end of the year will I get separate W-2's, one for the bonus and the other for wages or will they be on 1 W2 for the total. If there are separate W-2's, do you just treat them like you would if you had W-2's from each employer you worked for and add them together and place in the wages column of tax return
 


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loku

Guest
WILL I GET SEPARATE W-2'S, ONE FOR THE BONUS AND THE OTHER FOR WAGES OR WILL THEY BE ON 1 W2 FOR THE TOTAL.
You should get one W-2, which includes the total.

IF THERE ARE SEPARATE W-2'S, DO YOU JUST TREAT THEM LIKE YOU WOULD IF YOU HAD W-2'S FROM EACH EMPLOYER YOU WORKED FOR AND ADD THEM TOGETHER AND PLACE IN THE WAGES COLUMN OF TAX RETURN
If for some reason, you do get separate W-2s, you are correct: you treat them like you would if you had W-2s from each employer you worked for as you said.
 
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GkwofAtl

Guest
rE: TAXES on bonus

I notice that the withholding on my check was about 28%. So if the bonus is added in with other wages then it should be taxed like regular wages, right and not at 28% on my federal return. Which, I figure means I should get some a lot of what was withheld at 28% back.
 
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loku

Guest
You are probably correct; however, the only way to know for sure is to prepare the return.
 

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