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Although wages from W2 add up to $142,796 why is the 1040 form line 7 displaying a value of 142,938?

 
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1 Reply
MichaelMc
New Member

Although wages from W2 add up to $142,796 why is the 1040 form line 7 displaying a value of 142,938?

The amount on Line 7 of Form 1040 will not always match the sum of Box 1 wages on your Form(s) W-2, because the "etc." in the line description (Wages, salaries, tips, etc.) refers to over a dozen items that might not be on your W-2, including unreported disability or sick pay, scholarship or fellowship income, taxable tips, dependent care or adoption benefits, and excess moving reimbursements just to name a few.

If you're using the CD/download TurboTax software, you can see what's included in Line 7 by switching to Forms mode, opening your 1040 or 1040A form, right-clicking the amount on Line 7 and choosing Data Source, and then clicking Wages, Salaries & Tips Worksheet.

To obtain this worksheet in TurboTax Online, you'll need to open the Print Center from the My Account drop-down in your return and either choose the All forms or Forms filed with the government plus all worksheets option.

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