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Retirement tax questions
I'm not a RR W-2 expert by any means
...but I think what they are saying, is the box 1 value must also be in box 14 as the category "Railroad Retirement Compensation"
The Tier 1 and Tier 2 taxes withheld need a value to compare to....
......(My problem is that I don't really know if box 1 is always used, or whether box 1 can sometimes be different from the exact "Compensation" value needed for box 14....thus, the box 14 "Compensation" value may occasionally need to be different.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎February 8, 2020
6:54 AM