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Why is income not being reduced $31,000 for 457(b) contribution?

 
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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Why is income not being reduced $31,000 for 457(b) contribution?

The $31,000 reported with code G in box 12 of your W-2 indicates that your employer should have already excluded the $31,000 from the amount reported in box 1 of your W-2, so it's not being added to your income in the first place.

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1 Reply
dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Why is income not being reduced $31,000 for 457(b) contribution?

The $31,000 reported with code G in box 12 of your W-2 indicates that your employer should have already excluded the $31,000 from the amount reported in box 1 of your W-2, so it's not being added to your income in the first place.

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