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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Florida's first responder recognition bonus 2022
Florida's first responder recognition bonus 2022
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Opfor77
Level 4
02-11-2023
02:25 PM
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Is this taxable? If not, do I just negate it after entering in the 1099-NEC?
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Skylane
Level 11
02-11-2023
09:46 PM
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You’ll have to verify this, but i believe the Fl 1st responders checks in 20 and 21 were considered (some sort) of reimbursement (there were no 1099s). In 22 they issued a 1099 to Employees… i don’t know if they’re considering it a bonus or award or a gift, but IMO. You should report it as Other Income. Yes it’s taxable but not subject to SE tax
If at first you don’t succeed…..find a workaround
Opfor77
Level 4
02-12-2023
01:20 PM
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Thank you. That's what I've come across as well.
