What is considered compensation?

Compensation includes wages, salaries, professional fees, and other pay you receive for services you perform. It also includes sales commissions, commissions on insurance premiums, pay based on a percentage of profits, tips, and bonuses. Generally, these amounts are included on the Form(s) W-2 you receive from your employer(s). Also include any net earnings from self-employment.

Compensation doesn't include any amounts received as a pension or annuity and doesn't include any amount received as deferred compensation.