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So why is the tax so different My wages for box 1 are smaller than the social security/medicare wages (box 3 & 5) hi there, my wages are a smaller amount than what is in box 3 and 5 Is treasury interest taxed at a much higher rate or something on short term treasury notes?
The regular wages are in box 1, and then the social security tips in box 7 plus the social security wage in box 3 should equal box 1, total wages Listed it as other income category in tt and answered the questions that it was not from self employment or any other related category. It doesn't change anything on your tax return
If you have allocated tips in box 8, then those are considered tips that were not reported based on a formula of minimum tip requirements by the irs.
Non dividend distributions do not go anywhere on your actual tax return Box 3 is for your information Box 3 is a return of capital That is, you have been given back part of your original investment
As such, you reduce your cost basis, by the box 3 amount, in your own records, for when this investment (typically stock or mutual fund) is sold in the future. Open (continue) your return if it's not already open Quite honestly, the box 3 entry field is put there only to make our customers feel more comfortable that turbotax is accurately capturing their tax information That is the whole purpose
The fees were for my disability attorney
In addition she charged me $120 directly related to medical records. Down the left side of the screen, click federal In the center of the screen, click income & expenses On the screen your income and expenses, scroll all the way down to the last section, less common income.
2024 return, 1099misc , box 3, and other income received a 1099misc form for interested paid on structured notes Amount listed in box 3
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