Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

I earned a bonus in 2017 from a company I left on 12/31/17.

I earned a bonus...

I earned a bonus in 2017 from a company I left on 12/31/17. They are going to pay the bonus in 2018. Should this be on a 1099 or w-2?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

The bonus was part of my compensation for 2017, but paid out after the financial audit was approved. They are ready to pay, but think it needs to be on a 1099 as I am not currently employed by them.

Show More
Show Less
Ask Your Own Tax Question
Answered in 8 minutes by:
3/12/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,424
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

An employer-employee relationship existed when the bonus was "earned," so the bonus is work-related, taxable and reportable on a W-2.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Ask Your Own Tax Question
Customer reply replied 4 months ago
would this be on a 2017 W-2 or 2018 W-2 since that is when it is being paid?

It should be on a 2018 W-2, so you will file it with your 2018 tax return early next year.

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,424
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified
Barbara and 87 other Tax Specialists are ready to help you
Ask your own question now

Thank you for the positive rating of my answer. It is very much appreciated.

Have a great day!

Ask Your Own Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Barbara Your Own Question
Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,424
6,424 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

Barbara is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
I need assistance with how to handle my missed RMD for 2017.
I need assistance with how to handle my missed RMD for 2017. I took the withdrawal online at Fidelity on December 30 and it was too late to have it posted in 2017 so the withdrawal was allocated to 20… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
My company was audited for sales and use taxes for the
My company was audited for sales and use taxes for the period from 1/1/12 through 12/31/14. The state claimed that we failed to collect the proper amount of tax and determined in 2017 that the amount … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,172 satisfied customers
This question is for tax/accounting specialist only: My
This question is for tax/accounting specialist only: My income in 2017 was from company's short-term-disability (STD) 1/1/17-2/10/17 and long-term-disability (LTD) 4/1/17-12/31/17. 1) What form(s) do … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,172 satisfied customers
Trying to lower 2017 taxes. I have 401k at work. Also have
Trying to lower 2017 taxes. I have 401k at work. Also have traditional ira. Ira deductions have phased out for me. What are other options?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Dr, I am a new business and the profit I made for 2017 was
Good morning Dr Chen, I am a new business and the profit I made for 2017 was $7612 and i paid myself 5000 do i put that down under compensation to officers since i am the only owner or can i write mys… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,172 satisfied customers
I paid tuition on December 30 2017 for my daughter. I made a
I paid tuition on December 30 2017 for my daughter. I made a withdrawal from her 529 account on 1/3/18 to reimburse me for her tuition and all her books. I did not think about the withdrawal being in … read more
Carter McBride
Carter McBride
LLM
1,192 satisfied customers
I have a Nevada resident who called me on 30 Jan 2018 and
I have a Nevada resident who called me on 30 Jan 2018 and wants to pay himself W2 income for 2017 so he can get a loan approved for a house. He has been paying himself all year by simply transferring … read more
Lev
Lev
Retired
Bachelor\u0027s Degree Equivalent
27,134 satisfied customers
Last year I worked at a company from January until June. I
Last year I worked at a company from January until June. I want to pick up my w-2 so I can file my taxes. When should I expect them to have my w-2 ready for pick up? Thanks.… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,172 satisfied customers
My question is: our LLC had a contract work in 2017. When we
Hi, I am Julianna. My question is: our LLC had a contract work in 2017. When we received payment, the invoice date shows 12-4-2017, but the chack date is 1-4-2018. Accordingly, I paid my contractor in… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,172 satisfied customers
I have an LLC in CA. Originally it was a partnership, filing
I have an LLC in CA. Originally it was a partnership, filing a 1065 to the IRS. Now, the other partners have left and I want to file as a single member LLC, flowing back into my schedule c. The change… read more
Barbara
Barbara
Enrolled Agent
6,424 satisfied customers
Only Please you helped me last night and I just want to see
Barbara Only Please Hi, you helped me last night and I just want to see if I understand. If my family makes 60k + 60k in 2017, married, filing joint, 1 minor age dependent, we do get some benefits fro… read more
Barbara
Barbara
Enrolled Agent
6,424 satisfied customers
I had a question regarding executive bonus plans for small
I had a question regarding executive bonus plans for small business … read more
Barbara
Barbara
Enrolled Agent
6,424 satisfied customers
I am moving to Australia December 17th 2017. I will have
Hi - I am moving to Australia December 17th 2017. I will have earned a bonus during the period January 1, 2017 to December 31, 2017 (most of this time i was a non-australian-resident for tax purposes)… read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
What is the limitation for failure to give employees WW2 or
What is the limitation for failure to give employees WW2 or 10 99 forms, also for hiring people who are on disability and paying them under them cash. … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
47 satisfied customers
Just a quick question - not sure if it is your area of
Hi Pearl Just a quick question - not sure if it is your area of expertise … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
47 satisfied customers
I am getting ready to move from the US to Netherlands where
I am getting ready to move from the US to Netherlands where I'll have permanent residency for ~18 months (for work my employer has a US and NEtherlands office). The time period would be 7/1/17-12/31/1… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
A non-qualified annuity in a trust account was liquidated
A non-qualified annuity in a trust account was liquidated shortly after the owner death … read more
Lev
Lev
Retired
Bachelor\u0027s Degree Equivalent
27,134 satisfied customers
I have a question regarding the 1099 amount I received from
I have a question regarding the 1099 amount I received from a company; and I do not agree with the amount on it... … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor\u0027s Degree
3,094 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x