Welcome Guest. Register Now!  


For 2013 Tax Tips For Year 2013.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 11-24-2014, 09:42 PM
dawin23
 
Posts: n/a
Waitree wages

Do I add wages (box 1 w-2) + allocated tips(box 8 w-2) to get the amt for line 7 on 1040?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 11-30-2014, 03:23 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,219
Quote:
Originally Posted by dawin23 View Post
Do I add wages (box 1 w-2) + allocated tips(box 8 w-2) to get the amt for line 7 on 1040?
correct; aslongas you need to report allocated tips, yu must badd the amounts in boxes 8 of your Form W-2 and report the total on the wages, salaries, tips, etc. on line 7 of Form 1040. You cannot use Form 1040EZ or 1040A in this case.

allocated tips are shown separately in box 8 of your Form W-2 and are not included in the total in box 1 of w2 ;needless to say, you must report allocated tips on your tax return by including it on line 7 1040. Since soc. Sec. taxes were not withheld from the allocated tips, you will have to calculate these taxes on Form 4137.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Stipend, wages, and taxes fendereff Payroll 3 03-19-2014 11:51 AM
Am I taking too much in Wages? PeoriaSCorp2 S-Corporation 2 01-02-2013 12:57 PM
Two W-2 with the same State Wages but different states Guiny Miscellaneous 1 04-15-2011 10:54 AM
Different wages on NY and NJ W-2s melish27 New Jersey 0 01-28-2011 12:35 PM
What is the definition of Garnishment of Wages? TaxGuru Miscellaneous 0 01-24-2010 11:27 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning