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Your Next Client
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John began working at the Topaz Restaurant on June 30 and received $5,000 in wages during the year. John kept a daily tip record showing that his tips for June totaled $10 and his tips reported to the employer for the rest of the year totaled $2,000.
How much should be reported on John's Form W-2 as wages, and how much should John report as wages on his return?
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$5,000 on Form W-2 and $7,000 on the tax return |
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$7,000 on Form W-2 and $7,000 on the tax return |
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$7,000 on Form W-2 and $7,010 on the tax return |
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