Hi,
I am looking at my W2, and my medicare wages(box 5) is less than the sum of my wages & 401k contributions. Note: I didn't use any medicare.
Box 1: $x
Box 5: $y
Box 12(D): $z
In my case, $y is less than ($x + $z) . I suppose medicare tax withheld is also lower than what it should be.
In other words, I am trying to figure out the exact differences between taxable medicare wages in box 5 vs taxable wages from box 1.
One delta is 401k contributions, as "taxable medicare wages" is supposed to include this amount.
What should I do?
Thanks!
