WorksheetsW-2 Forms
Total questions: 20
Worksheet time: 15mins
What do you know about Lily’s employment?
Lily earned minimum wage plus tips
Lily worked at Scoops Ice Cream in 2024
Lily worked during every month of 2024
Lily’s annual net pay (take-home pay) was $17,780 after taxes
Lily uses a tax filing software that asks for her Employer’s Identification Number (EIN). What is it?
123-45-6789
987654321
00122234001
1545-0008
What tax information is NOT included 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 from this employer for this period?
$1,102.36
$1,600.20
$17,780.00
$20,220.67
What was the largest withholding on Lily’s W-2?
Medicare tax
Federal income tax
State income tax
Social security tax
Based on this W-2, which of the following statements is TRUE?
Lily is contributing to a 401(k) retirement through her employer
Lily works in the state of Indiana, which has a state income tax
Lily’s taxable wages are much larger at the federal level than at the state or local level
Lily earned less than $14,600 (which is the standard deduction amount)
While filing, Lily finds out that her total federal income tax due was $318. Based on her federal income tax withheld, how much of a tax refund can she expect?
$318.00
$1,282.20
$1,600.20
$2,642.37
Lily paid ______ in Social Security tax, which is _______ of her total wages.
$257.81
1.45%
$257.81
6.2%
$1,102.36
6.2%
$1,102.36
1.45%
What was the total amount deducted from Lily’s pay for Federal, State, and Local income tax?
$881.89
$1,600.20
$2,482.09
$3,842.26
Based on her W-2, what state income tax rate did Lily pay?
339.60 / 17,780.00 = 1.91%
542.29 / 17,780.00 = 3.05%
1,102.36 / 17,780.00 = 6.20%
542.29 / 1,600.20 = 33.89%
This form will be sent to Lily by the end of __________ and she will use it to _________.
January
obtain employment
December
file her income taxes
December
obtain employment
January
file her income taxes
All of the following employee information is included on a W-2 form EXCEPT:
Employee's date of birth
Employer name and EIN (Employer Identification Number)
Employee's Social Security Number
Employee's current address
Based on this W-2, which of the following statements is TRUE?
Lily is contributing to a 401(k) retirement through her employer
Lily works in the state of Florida, which does not have an income tax
Lily's taxable wages are much larger at the federal level than at the state or local level
Lily earned more than $14,600 (which is the standard deduction amount)
Based on the W-2 provided, Lily paid a state income tax rate of ________
3.1%
6.2%
2.9%
1.4%
MONY
What information does box 2 on the W-2 form display?
Amount of federal income tax withheld
Total taxable income
Social Security taxes withheld
Medicare taxes withheld
Which box reports the amount of earnings subject to Social Security taxes?
Box 5
Box 7
Box 3
Box 1
What is the purpose of boxes 15 to 20 on the W-2 form?
To report state and local income tax information
To report deferred compensation
To report federal income tax withheld
To report tips earned
For what purpose is box 10 used on the W-2 form?
Reporting deferred compensation
Reporting dependent care benefits
Reporting employer's state ID number
Reporting tips earned
What day are tax returns "due"?
December 31st
May 17th
January 31st
April 15th
