Tip income


B

bc3544

Where do I report cash tip income in TaxAct? There are at least 2
separate boxes regarding TIPs on the fill-in W-2 form. Also, is there
a threshold under which tips don't have to be reported?
 
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P

Phil Marti

Where do I report cash tip income in TaxAct? There are at least 2
separate boxes regarding TIPs on the fill-in W-2 form. Also, is there
a threshold under which tips don't have to be reported?
Start with IRS Publication 531 if you received these tips as an employee.
(If you received them as an independent contractor, they're just part of
gross receipts on Schedule C.)
 

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