Park University Accounting Additional Medicare Tax Form 8959 Paper
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This practical application requires you to compute additional Medicare tax for a high-wage earner and report the information using the applicable tax form.
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Order Paper NowTax forms are used to report PBC and source document information on your individual income tax return (e.g. Form 1040).
Due Date
- By Saturday at 11:59 P.M., CT.
Case Information
Lionel, a single taxpayer, reported $46,175 of self-employment income on his 2018 Schedule SE, Section B, Line 6.
Lionel also received two Forms W-2 in 2018; the applicable amounts for Medicare wages and Medicare tax withheld are summarized below:
| Form W-2 Description | Form W-2 Box # | Amount |
|---|---|---|
| Employer A Medicare wages and tips |
Box 5 | 119,000.00 |
| Employer A Medicare tax withheld |
Box 6 | 1,725.50 |
| Employer B Medicare wages and tips |
Box 5 | 70,000.00 |
| Employer B Medicare tax withheld |
Box 6 | 1,015.00 |
Directions
- Prepare Form 8959 (Parts I, II, IV, V)
- Download Form 8959 – Compensation Practical Application.pdf.
- Complete Parts I, II, IV and V of Form 8959 using the case information provided above.
- Submit the completed tax form.
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