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Is Form 1040 line 1 MORE than the total of your W-2s, or less? If it's more, there are a number of different kinds of income that get added into the wages on line 1 of your tax return, but do not come from W-2 box 1. Many, but not all, of these types of added wage income are indicated by an abbreviation and amount shown to the left of the total wages on line 1. Do you have an abbreviation to the left of the amount on line 1? The most common of these are the following.
SCH - Taxable scholarship income
HSH - Wages earned as a household employee but not reported on a W-2
DCB - Taxable dependent care benefits from W-2 box 10
Some other types of income that might be added into line 1, without an abbreviation, are the following.
- Tips that you did not report to your employer.
- Allocated tips from W-2 box 8.
- Disability payments from a pension plan from Form 1099-R with distribution code 3 in box 7, if you are below the minimum retirement age for the plan.
- A corrective distribution or return of excess contributions from a retirement plan, from Form 1099-R with distribution code 8 in box 7.
Is Form 1040 line 1 MORE than the total of your W-2s, or less? If it's more, there are a number of different kinds of income that get added into the wages on line 1 of your tax return, but do not come from W-2 box 1. Many, but not all, of these types of added wage income are indicated by an abbreviation and amount shown to the left of the total wages on line 1. Do you have an abbreviation to the left of the amount on line 1? The most common of these are the following.
SCH - Taxable scholarship income
HSH - Wages earned as a household employee but not reported on a W-2
DCB - Taxable dependent care benefits from W-2 box 10
Some other types of income that might be added into line 1, without an abbreviation, are the following.
- Tips that you did not report to your employer.
- Allocated tips from W-2 box 8.
- Disability payments from a pension plan from Form 1099-R with distribution code 3 in box 7, if you are below the minimum retirement age for the plan.
- A corrective distribution or return of excess contributions from a retirement plan, from Form 1099-R with distribution code 8 in box 7.
I see exactly what you are talking about. thank you so much!
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