Are contributions to 401k plans subject to FICA and Medicare?

janekeegan · ‎May 31, 2019

I contributed $500 to my HSA, matched by my employer who contributed $500. I also contributed $1200 to my 402(k). How should these be reflected on my W-2? Should my wages in Box 1 be less than my $60,000 gross salary? How much should Social Security and Medicare earnings in Boxes 3 and 5 be? What amount should be in Box 12?

jerry2000 · ‎May 31, 2019

Contributions to a 401k are subject to social security and medicare tax, but not to ordinary income tax. So your W-2 Box 1 amount will be lower than your actual gross salary by the amount of your 401k contributions and any Sect. 125 or "cafeteria" plan benefits. Your Box 3 and Box 5 amounts will be your gross salary because the 401k and other benefits are subject to SS and Medicare tax. Box 12 shows the elective deferral amounts.

You can research all of this yourself by reading the instructions for Forms W-2 and W-3 at this link;

www.irs.gov/pub/irs-pdf/iw2w3_13.pdf

View solution in original post

cemckenzie · ‎May 31, 2019

this IRS link is broken

VolvoGirl · ‎May 31, 2019

Probably because this is a 3 year old question. You should start you own new question.

BobB7 · ‎May 31, 2019

But your Box 1,3, and 5 amounts will all be lower by the $500 HSA you contributed. Box 12 will show $1200 Code D and $1000 Code W

Are contributions to 401k plans subject to FICA and Medicare?

Retirement tax questions

Retirement tax questions

Retirement tax questions

Retirement tax questions