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New Member
posted May 31, 2019 5:00:57 PM

On my W2, line 1 is $22,000 less than line 5. which are my correct "total wages"?

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1 Best answer
Level 15
May 31, 2019 5:01:00 PM

"which are my correct 'total wages'?"

As others have indicated, that depends on why you are asking and what you intend to do with the info. Using TurboTax (TT), you enter your W-2 exactly as you received it. TT knows what to do with it. For most tax filing purposes, box 1 is your taxable and reportable income.

If you are filling out a loan application, or some other similar purpose, box 5 is your wages.

7 Replies
Level 15
May 31, 2019 5:00:58 PM

For what purpose are you asking?  Enter the W-2 into the program, box by box.

Level 15
May 31, 2019 5:00:59 PM

It's very common and normal for box 5 to be more than box 1.  The difference is sometimes hard to figure out but it is usually because of 401k contributions and other pre-tax deductions.  

Are you trying to enter in your 2015 W2 info before getting the actual W2 in January?  DO NOT DO THAT!  ? Wait for the W2!  We can't stress that enough.  You have to wait for your employer to send you the W2. It is the tax summary of your wages for the year. They have to send it to you by Feb 1. You can't use your last paystub because there might be differences in the taxable amounts sent to the IRS. And you don't know what amounts to put in which boxes.  There are several items that are deducted pre-tax that will affect your taxable gross income.  Usually your last paystub does NOT match your W2!  And you can't file until you get the actual W2.  

See this article….
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1899643-can-i-file-my-tax-return-using-my-last-pay-stub">https://ttlc.intuit.com/questions/1899643-can-i-file-my-tax-return-using-my-last-pay-stub</a>

Level 15
May 31, 2019 5:01:00 PM

"which are my correct 'total wages'?"

As others have indicated, that depends on why you are asking and what you intend to do with the info. Using TurboTax (TT), you enter your W-2 exactly as you received it. TT knows what to do with it. For most tax filing purposes, box 1 is your taxable and reportable income.

If you are filling out a loan application, or some other similar purpose, box 5 is your wages.

New Member
May 31, 2019 5:01:02 PM

If you are applying for the ACA marketplace then use box 1.

Level 15
May 31, 2019 5:01:02 PM

Actually, I think it's supposed to be Box 1 for ACA. See the small print here:
<a rel="nofollow" target="_blank" href="http://laborcenter.berkeley.edu/pdf/2013/MAGI_summary13.pdf">http://laborcenter.berkeley.edu/pdf/2013/MAGI_summary13.pdf</a>

Level 15
May 31, 2019 5:01:04 PM

or are you asking about "total wages attributable to state xxx?"

New Member
May 31, 2019 5:01:06 PM

That's right, thanks.