Pennsylvania W2 Tax Form: What Is Taxable?
- You are required to report all wages you received when you complete your Pennsylvania state tax return. If you held more than one job during the year, there is a space on the return to list each job separately. You need to provide the employer ID of each firm you worked for, along with your taxable wages and the amount of state income tax withheld.
- Any income you receive from interest and dividends is taxable in the Commonwealth of Pennsylvania. When you complete your federal tax return, keep copies of the 1099-DIV and 1099-INT forms you used to prepare that return and transfer those amounts to your Pennsylvania state income return.
- If you have income from a business, or income from self-employment, you are required to report the amount you made on your Pennsylvania income tax return. As a business owner or independent contractor, you can take deductions for the costs associated with running your business, just as you do on your federal income tax return.
- If you sold your home, stocks or other assets during the past year, you must report that income when you complete your Pennsylvania state income tax return. Only the gain is taxable, so keep track of your cost basis to avoid overpaying.
- If you have rental property like an office, home or apartment, you must report that income to the state. Keep careful records of your rental property expenses and report your income accurately.
- Any income you receive from a trust is considered taxable income in Pennsylvania. You are required to include that income when you complete your Pennsylvania state income tax return.
- If you win money at a casino, race track or other gambling establishment, you are required to report that income to the Commonwealth of Pennsylvania when you complete your return. If you win more than $600, the casino should send you a 1099, otherwise you need to keep track of your wins and losses on your own.
Wages
Interest and Dividends
Business Income
Capital Gains
Rental Income
Trust Income
Gambling Winnings
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