Level 15

Question

Things that make you wonder

Forum|Forum|2 years ago
April 3, 2024
4 replies
29 views

So this morning I pulled out of my pile a tax return that also included W-2s for their three high school and college age kids. One of the kids has a W-2 for $1.00. What on earth do you do (or not do) to receive a paycheck for $1.00? Well, I should say a paycheck for $0.94 since they did withhold Social Security. It's been an interesting year to say the least.

ProSeries Professional

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PATAX

Level 12

He or she worked for 7 minutes and then quit?

IRonMaNAuthor

Level 15

It was from a high school so I don't know if it was from some type of program and they paid him a buck just acknowledge that he was there ------------ or if they found a loophole in the minimum wage rules and he worked one day for their minimum wage 😜

Slava Ukraini!

dascpa

Level 11

Today one of my large investor client had moved all of his investments from 9 different investment accounts into 7 new ones and then rebalanced his portfolio. Not a big deal to enter 16 investment 1099's, just slow. But the investment house issues two 1099's for each account with exact same numbers. I ask the client - for joint accounts they split the 1099's into two. So now I have 9 + 7 + 7 = 23 investment accounts. Makes you wonder.

IRonMaNAuthor

Level 15

I kinda prefer dealing with my $1 W2s instead of your ridiculousness 😀

Slava Ukraini!

The_AntiTax_Man

Level 7

@IRonMaN the school must need him in their payroll system for some purpose. Possibly he is an unpaid volunteer that they want to have covered under their work comp insurance?

When you come to a fork in the road, take it.

IRonMaNAuthor

Level 15

The only justification I can come up with is they just wanted to see if they could drive me crazy.

Slava Ukraini!

R

rcooley25

Level 7

Have they suceeded?

BobKamman

Level 15

They have a class, "IronMan is going to retire by the time you finish college and we need 10 people to replace him." One assignment was preparing a sample W-2.

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