Hello,
I am trying to generate my W-2 on Intuit ( S-corp, sole owner and unique employee).
My wage for 2024 was 39,000. I made a pre tax 401K employee contribution of 30,500 as it is the maximum I can do (over 50 yo). Box 12a D is thus 30,500. I put 39,000-30,500=8,500 in box 1; then 39,000 in boxes 3 and 5. I also had 25% federal income tax withheld, which is 39,000x25%=9750 in box 2.
Because the withheld tax in box 2 is higher than what is in box 1, Intuit issues an error message 'Form W-2 Worksheet: Box 2 is too large' and won't build my W-2. I guess I will withhold less next year, but what is the workaround so that I can actually generate a W2?
