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New Member
posted Apr 18, 2023 3:23:24 PM

What do i do if my box 1 is showing 2,200 but box 3 23,700

0 4 434
4 Replies
Expert Alumni
Apr 18, 2023 3:35:17 PM

You should enter your W-2 exactly how you see it.   If you don't believe it to be accurate, contact your employer to confirm.  

Level 15
Apr 18, 2023 3:43:28 PM

This would seem to suggest that you have some items reported in box 12 that have reduced your taxable compensation by $21,500.  That could be elective deferrals reported with code D, $20,500 of regular elective deferrals and, if you were over age 50 in 2022, $1,000 of catch-up contribution,  or maybe the $1,000 is something else like an HSA contribution.

New Member
Apr 18, 2023 4:32:49 PM

Long story short we were getting paid checks in the beginning of 2022, those checks weren’t reported to paychex even though they were taking taxes out of our checks. So once paychex realized that, that wasn’t reported it’s now being revised with the irs to correct our w-2s. We are a small private dental office and we don’t get tips or bonus, I did claim Exemption a few times but I’ve never seen where my w-2 for box 1 would look like that. 

 

Expert Alumni
Apr 18, 2023 4:47:22 PM

If you are expecting a corrected W-2, file an extension and wait for the corrected forms.   If you file an incorrect document, you may need to amend it later.    How to handle W-2C