I got a w-2 and 1099 misc from my employer can they tax my bonus? – Money & Services


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I am a full time employee . I got a w-2 from my employer and at x-mas time I got a x-mas bonus? Now I also got a 1099-misc form from the same employer? Can they tax my bonus? Can I file w-2 and 1099-misc even thought I am not self employed?


Your employer had two options:
1. Show bonus as wages on W-2 and withhold SS tax, Medicare tax and income taxes.
2. Show bonus as extra income on 1099-misc. Now you will take care of your taxes yourself. Yes, you are not self employed but IRS requires that you report 1099-misc income on schedule C (Form 1040).

Yes, you must report both the income on your tax return.

1099-misc income:You will report your income and business related expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is subject to SE tax at 15.3% (this is shown on line 57 of Form 1040). Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor

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