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• tax man
• 2021/04/13 (Tue) 13:42
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I haven't seen the actual W-2, so I don't have a definitive answer, but
basically, a 401K or Traditional IRA has the effect of lowering your taxable income by deducting
income tax from the amount you pay, so
the amount in Box 1 of the W-2 is the amount of your 401K minus the amount of your Traditional IRA. The Social Security(3)
and Medicare(5) are usually the amounts that have not been subtracted from the 401K amount.

In addition, the W-2 form usually shows the statement as follows,
Your Gross Pay was adjusted as follows to produce your W-2 Statement.

In addition
Please refer to the following for a basic W-2 and 401K explanation.

On the other hand, your 401K contributions are not subject to Income Tax and reduce Box 1 of your W2; however,
your 401K Contributions are subject to Social Security Tax and Medicare Tax so they are not deducted from Boxes 3&5 of your W2.

I think you should check with your company I think you should check with your company.

• 謎解き
• 2021/04/13 (Tue) 15:12
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I don't see a problem maybe
your husband
Social Security(3) has a max of $ 142,800, so no matter how much more, 3 is $ 142,800
5(Medicare... \™) is not max
If 401K is Roth, then 1 and 5 should be the same.
Mrs.
traditional 401K with Wages less than $ 142,800, 3 and 5 should be the same, 1 less for 401k

• まだ謎
• 2021/04/13 (Tue) 21:26
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1．(Wages...) and 5．(Medicare...) 1(Wages...) and 5(Medicare...) are the total annual income and 3(social security...) are the total annual income. 1(Wages...) and 5(Medicare...) are your total annual income and 3(social security...) is your total income minus your 401k contribution.

I can't explain why the Social Security wage(3) is less than the 401k when the Social Security wage(3) is usually more than the 401k
.
Is it just a misunderstanding that the difference between （ 1 ） Wage and the max of Social Security wage(3) happens to be as much as the 401k amount?
Otherwise, tax man is right that you should check
and there is still another month before the deadline this year.

• 2020 クイズ
• mail
• 2021/04/14 (Wed) 18:27
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Is the Retirement Plan a Qualified Plan or Non-Qualified ？

Non-Qualified Plan is the same as
Box 1, Box 3 and Box 5 since the accumulation is not tax deductible. (However, Box 3 has a Max of $ 137,700€)

If the Plan is a Qualified Plan （ where the accumulation is tax-deferred ） then Box 1 (Taxable Income ） is Gross minus Retirement Plan minus Retirement Plan.
(Box 5 / Box 3 ) - Box 12a (D) = Box 1

I don't know the code and amount of Box 12 so I can't say, but in any case, Box 3 = Box 5 - Box 12a （ right ？ ） If it is, that's odd.

• え？
• 2021/04/14 (Wed) 21:39
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Shinoyama doesn't come up?