Two W2 forms

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Subject Author Date Two W2 forms jaspreet101 02-25-2007  Re: Two W2 forms Phil Marti 02-25-2007  Re: Two W2 forms shedges 02-25-2007
Posted by jaspreet101 on February 25, 2007, 12:40 am Please log in for more thread options I have Two W2 forms for year 2006.To calculate TAX is it a simple maths like ADD both the Gross and ADD both the Federal withholding ,to calculate TAX or there is other way. thnx jas << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Posted by Phil Marti on February 25, 2007, 4:43 am Please log in for more thread options > I have Two W2 forms for year 2006. To calculate TAX is it > a simple maths like ADD both the Gross and ADD both the > Federal withholding ,to calculate TAX or there is other way. The total of all W-2 box 1 numbers goes on line 7 of the 1040. The total of all W-2 box 2 numbers goes on line 64. Don't forget the credit on line 71. The rest of it is just follow the instructions and math. -- Phil Marti Clarksburg, MD << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Posted by shedges on February 25, 2007, 5:19 am Please log in for more thread options When you have 2 form W-2's, you add the Box 1 amounts together and put the sum on Form 1040, Line 7. Then add the Box 2 (Fed W/H) amounts, and enter the sum on Form, Line 64. To get your taxable income, you reduce your gross income by things, such as your standard or itemized deduction and your personal exemptions. Look up your tax in the tax tables for your taxable income and marital status. You tax, minus the withholding results in a refund or additional tax owed. << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Similar Threads Posted W-2 Forms forms from Employers January 31, 2007, 5:31 pm What forms do I need ? August 28, 2007, 4:29 pm which forms should I use and what should I look out for January 21, 2008, 5:31 pm Wisconsin LLC, EIN and tax forms January 11, 2008, 3:09 pm Estimated Tax Forms October 12, 2008, 12:39 pm 2007 IRS Forms And Instructions January 18, 2008, 8:00 pm FORGOT a few tax forms when filing April 12, 2006, 11:28 pm SSA database mangles on-line W2 forms January 10, 2007, 10:16 pm How do I figure tax forms with Sharebuilder stocks? February 13, 2007, 1:49 am withdrawal of contributions from a Roth - Tax Forms January 9, 2008, 10:03 pm