close
    What amount goes into Box 8 of my W-2 form? Does this reduce or increase my income?

    0  Views: 650 Answers: 1 Posted: 13 years ago

    1 Answer

    Box 8 - the total in allocated tips. If you worked in a restaurant but didn't report all your tips to your employer, then this box lists the difference between what you reported in tips and your share of 8% of the restaurant's income. If there is any amount listed here, it was not included in Box 1, the total of wages and salaries.


    When you report your salary on your 1040, you need to add Box 1 and Box 8 and enter this total on your 1040 for "wages, salaries, and tips". If you do have a number in Box 8 you also need to complete Form 4137, Social Security and Medicare Tax on Unreported Tip Income


    That means you sill pay more income tax and more FICA.


     


     



    Top contributors in Uncategorized category

     
    ROMOS
    Answers: 18061 / Questions: 154
    Karma: 1102K
     
    Colleen
    Answers: 47269 / Questions: 115
    Karma: 953K
     
    country bumpkin
    Answers: 11322 / Questions: 160
    Karma: 838K
     
    Benthere
    Answers: 2392 / Questions: 30
    Karma: 760K
    > Top contributors chart

    Unanswered Questions

    mm88group
    Answers: 0 Views: 7 Rating: 0
    i9bet2hart
    Answers: 0 Views: 4 Rating: 0
    Estratégias para apostar e ganhar mais no 57SBet
    Answers: 0 Views: 12 Rating: 0
    65kgames
    Answers: 0 Views: 10 Rating: 0
    thabetbroker
    Answers: 0 Views: 15 Rating: 0
    Singapore Escort
    Answers: 0 Views: 14 Rating: 0
    RIKVIP
    Answers: 0 Views: 11 Rating: 0
    > More questions...
    522780
    questions
    758241
    answers
    868500
    users