jasonba
New Member

My W2 wages are really really high. How can I determine how much of that was considered "other compensation"?? I don't recall making that much this calendar year.

 
ColeenD3
Expert Alumni

Get your taxes done using TurboTax

You may be able to distinguish these amounts by looking at your paycheck stub. There is usually a break-out there.

 

Box 1 "Wages, tips, other compensation": This is federal, taxable income for payments in the calendar year. The amount is calculated as YTD earnings minus pretax retirement and pre-tax benefit deductions plus taxable benefits (i.e., certain educational benefits).

Get your taxes done using TurboTax

...and define "really high".  $$ vs ~$$ expected

 

What is the total of all the box 1's, for each different employer you had vs. the total compensation you claim to see displayed?   i.e. if you edit each W-2, are you sure the actual boxes 1-thru-6 in the software are exactly as displayed on any W-2 you've entered?  And make sure you've only entered one W-2 for each different employer.

 

Certainly the total compensation on line 1 of the form 1040 can be higher than just the box1's of any W-2 forms you've entered...especially if you've received tips, you've received scholarship $$, or worked as Household Employee, or have also had some $$ in box 10 of a W-2, or received a 1099-R with a code 3 in box 7....and some other instances.  But if no other unusual income, then an unusually high number usually indi9cate a mistaken entry on the W-2 form(s)

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*