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New Member
posted Jun 5, 2019 10:15:55 PM

Should box 1 on my W2 equal my gross wages?

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1 Replies
New Member
Jun 5, 2019 10:15:56 PM

Yes, but less elective deferrals.

Box 1 on Form W-2 should include: "total taxable wages, tips, and other compensation that you paid to your employee during the year. However, do not include elective deferrals (such as employee contributions to a section 401(k) or 403(b) plan) except section 501(c) (18) contributions." (From Instructions for Form W-2).

For an exhaustive list of what should be included in Box 1, please see: https://www.irs.gov/pub/irs-pdf/iw2w3.pdf (located on pages 15-16).