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WorksheetsW-2 Form Review
Total questions: 10
Worksheet time: 5mins
The form will be sent to Lily by the end of January. She will use this W-2 form to . . .
obtain employment
receive her paycheck
file her income taxes
As Lily is completing her 1040 form, what piece of information will she find on a different document rather than on this W-2?
gross wages earned
federal income taxes she's already paid
state income taxes she's already paid
income earned from her investments
What were Lily's gross wages for this period?
$1,722.44
$2,480.17
$14,450
$16,172.44
Based on the W-2 form provided, what was the largest withholding?
medicare tax
federal income tax
state income tax
social security tax
What was the total amount deducted from Lily's pay for Federal, State, and Local Income tax?
$1,314.59
$1,547.24
$1,781.33
$2,886.75
Based on this W-2 form, which of the following statements is TRUE?
Lily is contributing to a 401k retirement through her employer
Lily works in the state of Indiana, which does not have an income tax
Lily's taxable income is much larger at the federal level than at the state or local level
Lily earned more than the standard deduction of $12,400
All of the following employee information is included on a W-2 form except . . .
employer name and EIN (employer identification number)
employee's social security number
employee's date of birth
employee's current address
Based on the W-2 provided, Social Security tax withheld for Lily was ______ of wages and Medicare tax withheld was ______ of wages.
1.3%, 5.5%
6.2%, 1.45%
10%, 10%
28%, 39.8%
Based on the W-2 provided, Lily paid Indiana a state income tax rate of _____.
1.2%
2.9%
3.2%
4.6%
As Lily files her taxes, she learns that her federal tax due ends up being $206. According to her Federal income tax withheld, how much of a tax refund can she expect back?
$206.00
$874.50
$1,080.50
$13,369.50
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