Do you have to report tip wages on your personal taxes?
Do you have to report tip wages on your personal taxes?
user
Generally, tip wages must be reported on your personal taxes if they exceed $20 for the year.
assistant
Do you have to report tip wages on your personal taxes?
user
No, tip wages are not reported on your personal taxes; instead, they must be reported on the employer’s quarterly or annual tax return. However, tip income may affect other tax liabilities such as the Alternative Minimum Tax (AMT).
assistant