Feb 2, 2021 · The amounts in box 1 and box 3 of your W-2 will be different if you had a pre-tax deduction. Some pre-tax deductions reduce your taxable income (box 1) and your social security income (box 3). Other pre-tax deductions only reduce your taxable income (box 1).

Apr 11, 2024 · I received a W-2 for my long term disability settlement with an insurance company. The premium was paid by the employer. Box 1 was filled with the settlement payment, but Box 3 and 5 were left blank. Box 13 "Third-party Sick Pay" was checked. Box 12 code was J with the payment amount. The final Smar...

Jun 5, 2019 · Boxes 1 & 3 (and 5 too) will not necessarily have the same figures. Most commonly, you'll see Box 3 greater than Box 1, which is -- as you thought -- a result of subtracting pre-tax items such as retirement plan deferrals. But Box 1 can also be greater than Box 3, since Box 3 (social security wages) is capped at $118,500 of income (for 2016).

Mar 8, 2025 · 1) Enter the amount from Form W-2 Box 1 under Deductions >> Salaried and Wages in the "Officers (>2% owners)" box. W-2 Box 3 is the amount of wages used to calculate Social Security withholding. 2) The amount from Box 12 (a) Code D should be entered under Deductions >> Retirement plan contributions. You may need to check the box for "Already contributed to a retirement plan for 20XX" in order ...

Jun 6, 2019 · Boxes 1 and 2 have numbers in them, but boxes 3-6 are blank.

Mar 7, 2022 · The regular wages are in box 1, and then the social security tips in Box 7 plus the social security wage in Box 3 should equal Box 1, total wages. It doesn't change anything on your tax return. If you have allocated tips in Box 8, then those are considered tips that were not reported based on a formula of minimum tip requirements by the IRS.

May 31, 2019 · Therefore, when you get your W-2, your box 3, income subject to Social Security taxes, and box 5, income subject to Medicare taxes, will include your pretax health insurance premiums. For example, even though your box 1 income went down to $45,500 because of your premiums, box 3 and box 5 will still show $50,000 of income.

Jun 3, 2019 · A very common example is the 401 (k). In this case, the amount in box 1 will be smaller than the amounts in boxes 3 and 5 by the amount of the contribution to the 401 (k). Note that this contribution will also be listed in box 12 with a code of D.

Mar 17, 2022 · My Box 1 (total wages) is completely blank. However my Box 3 (social security wages), Box 4 (SS tax withheld), Box 5 (Medicare wages), Box 6 (Medicare tax withheld) all have amounts in them.

Jun 6, 2019 · Box 13 – This box has 3 check boxes in it: Statutory Employee, Retirement Plan, and Third Party Sick Pay. These boxes will be checked or left unchecked by your employer. If it's checked, you also check the Box in TurboTax, if it's unchecked, leave it blank. A statutory employee is someone who is treated like an employee but didn’t have any taxes withheld from their paycheck (this occurs ...