Have Finance Questions? Ask a Financial Expert Online.
Hello, The total of award $18,153 will be reported as other income in the amount of $14,863 and wages of $3,289 on your return. You will record the $1265 in taxes paid the same as all other W2's. Since the revenue wasn't paid until 2011 you would report this in 2012 on your 2011 return. Thanks Tom