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kcstone21
New Member

Should my boxes 1, 3, and 5 be the same number?

 
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2 Replies
DawnC
Employee Tax Expert

Should my boxes 1, 3, and 5 be the same number?

Sometimes.  Box 1 has your total taxable wages, tips, prizes, and other compensation, as well as any taxable fringe benefits. It does not include elective deferrals to retirement plans, pretax benefits or payroll deductions. Because pre-tax items are not included, it's not unusual for this amount to be less than Boxes 3 and 5.

 

 

 

 

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Should my boxes 1, 3, and 5 be the same number?

On your W-2...not always.

 

Sometimes 1, 3 and 5 can be the same

BUT....

 

There are various pre-tax contributions that you might have made (like to a 401k or healthcare accounts)) that will reduce box 1 to be lower than boxes 3, and 5.  Those contributions are usually noted in box 12.  (Combat pay can also reduce box 1 below 3, and 5 )

 

(But if your income is Really high, over $132,800, then box 1 may be higher than box 3)

 

Boxes 3 and 5 are usually the same, except for high income individuals, where box 3 is stopped at $132,900 for 2019.

 

Box 5 is everything

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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