Hi. I have Medicaid Waiver Payments and my W2 box 1 is blank. There are value in box 3,4,5,6 and 12 code II. First of all, this is what 2024 1040 booklet page 24 says: "If you received nontaxable Medicaid waiver payments, and box 1 of your Form(s) W-2 is blank or has zeros, and you are choosing not to include nontaxable payments in earned income for purposes of claiming a credit, do not attach any of these Form(s) W-2 to your return."
My W2 box 1 is blank and I don't want to include this nontaxable income to my tax return. I am not claiming EIC either. However, W2 box 4 and 6 have value for Social Security Tax Withheld and Medicare Tax Withheld. I know my employer already submitted a copy of my W2 to the IRS. Now, here is my question. Do I still need to submit my W2 to the IRS? If I don't submit W2, does it affect my future social security and medicare benefits when I retire? Please help......
