Bonuses

Jine
Jine Member Posts: 3 Newcomer
in General

I received 2 bonuses of 1k so total of 2k and I am supposed to pay around 7.5% of state and federal taxes for both when i file my return. How do I pay that when filing my taxes since it's my first time getting a bonus and I do not know how that works. I filed married jointly and have 3 dependents

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Answers

  • cdkirchn22
    cdkirchn22 Member Posts: 22 Level 5

    FTUSA can e-file federal and state returns. You'll receive instructions before you submit your returns on how to submit any payments owed to federal or state. The bonus amounts will simply be included in your gross income on your W-2 so you don't need to call those out separately.

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  • AlexO
    AlexO FreeTaxUSA Agent Posts: 102

    Jine,

    That is a great question!

    If you were an employee of the company that paid you the bonuses, these bonuses should be reported on your Form W-2 along with other compensation paid during 2024. When you file your return, you'll just enter the W-2 as received and any state and federal tax owed on the bonuses will be calculated for you.

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