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Should unused vacation earned while employed and converted to payment after retirement be included as income for the year earned or year when the last check was received?

Forum|Forum|7 years ago
June 1, 2019
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Retired at end of calendar year 2017. Received reimbursement for unused vacation mid-2018 after "time and attendance" adjustments were made. Received W-2 reflecting payment.

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Best answer by rjs

All payments from your employer are reported as income in the year that you receive the payment. If you received payment in 2018, it is reported on your 2018 W-2 and your 2018 tax return, even if the payment was earned in an earlier year.

rjsAnswer

Employee

All payments from your employer are reported as income in the year that you receive the payment. If you received payment in 2018, it is reported on your 2018 W-2 and your 2018 tax return, even if the payment was earned in an earlier year.