Question
MFJ Marks 2016 salary was $205,000, and his employer withheld $58,000 for federal taxes, and $8,000 for state taxes. In addition, the appropriate amount of
MFJ Marks 2016 salary was $205,000, and his employer withheld $58,000 for federal taxes, and $8,000 for state taxes. In addition, the appropriate amount of social security and Medicare taxes were withheld (6.2% of 118,500 and 1.45% of 200,000).
Alices 2016 salary was $213,000, and his employer withheld $59,000 of federal and $4,000 of state taxes. In addition, the appropriate amount of social security and Medicare taxes were withheld (6.2% of 118,500 and 1.45% of 210,000).
None of a potential additional Medicare tax was withheld from either taxpayer How do you report this on a 2016 Form 8959? Also 1040
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started