You'll need to sign in or create an account to connect with an expert.
You may be able to distinguish these amounts by looking at your paycheck stub. There is usually a break-out there.
Box 1 "Wages, tips, other compensation": This is federal, taxable income for payments in the calendar year. The amount is calculated as YTD earnings minus pretax retirement and pre-tax benefit deductions plus taxable benefits (i.e., certain educational benefits).
...and define "really high". $$ vs ~$$ expected
What is the total of all the box 1's, for each different employer you had vs. the total compensation you claim to see displayed? i.e. if you edit each W-2, are you sure the actual boxes 1-thru-6 in the software are exactly as displayed on any W-2 you've entered? And make sure you've only entered one W-2 for each different employer.
Certainly the total compensation on line 1 of the form 1040 can be higher than just the box1's of any W-2 forms you've entered...especially if you've received tips, you've received scholarship $$, or worked as Household Employee, or have also had some $$ in box 10 of a W-2, or received a 1099-R with a code 3 in box 7....and some other instances. But if no other unusual income, then an unusually high number usually indi9cate a mistaken entry on the W-2 form(s)
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
knownoise
Returning Member
TaxPayer1842
New Member
barefootheart
New Member
upsdixon
New Member
jadaadams44
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.