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Monroe is a mechanic and his Form W-2, box 1, shows $21,000 from his job at Wild Autos. He also works as a waiter on the weekends. His Form W-2 from the restaurant shows wages $8,000 in box 1. He also received $18 in tips, which were not reported to his employer. What amount will Monroe report as wages on Form 1040, line 1?

Respuesta :

letmeanswer

$29018 amount will Monroe report as wages on Form 1040, line 1.

Explanation:

Amount to be reported as wages on form 1040,

                                                      line 1 = 21000+8000+18

                                                                = $29018

W-2 is the form that an employer will send to each worker and the Internal Revenue Service (IRS) by the end of this year and is also recognised as the Statement of Payor Tax. The W-2 report reveals the annual salary of the contractor and the amount of taxes that his paychecks exclude.

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