I received a $500 cash bonus this year from work. How do I report it on my taxes? What form do I use?

Answer 1

It is your employer's responsibility to record the income on your W-2. There is no special reporting required. It will be combined in your total income on your year-end W-2.

Answer 2

It should have already been included in your W-2 form if the accounting department at your work knows anything. Otherwise an additional W-2 should be issued. Ask whomever issued the bonus. If it wasn't included in the W-2 then you can add a schedule M-1 for other miscellaneous income to your tax return.

Answer 3

If the bonus was for doing your normal work, it is supposed to be included in your w-2. If it's for something else, it's possible that it might be reportable on a 1099MISC. If that were the case, your employer should have provided you with that by Jan 31 as well. I would assume that your employer knew what they were doing and properly included the amount in your w-2.

Answer 4

The bonus amount should have been included in the amount reported on your W2. Just file your return as usual; you don't need any additional forms or need to list it separately.

On very rare occasions employers may send a separate W2 for the bonus amount but this is not proper procedure. If they did, just add the amounts (wages and taxes withheld) from all W2s and complete your return as normal.

Answer 5

The amount would have been included in your W-2. You don't file any special form for a bonus.

Answer 6

The above information is correct, but just so you know, if the bonus was actually paid to you in 2007, then it will go on your 2007 tax returns...even though it may be for work you completed in 2006.

Answer 7

They normally include it in your W-2. Ask your H.R. rep