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Retirement tax questions
If you reported all of your tips to your employer, then the amount in box 1 of your W-2 will consist of both wages and tips. Tips are also listed separately in box 7 of the W-2 form. Please refer to page 15 of the IRS instructions for Form W-2 under "Box 1: Wages, tips,and other compensation" and page 17 under "Box 7: social security tips". https://www.irs.gov/pub/irs-pdf/iw2w3_16.pdf. If you did NOT report all of your tips to your employer, then you would need to include the amount that you didnt report, as additional income on your tax return. Additionally, if you have an amount in box 8 of your Form W-2, this is tip income that wasnt reported in box 1 so you would need to report this amount on your tax return as additional income.
Please see the FAQ below for further instructions. https://ttlc.intuit.com/replies/3300508
[edited 2/2/17]