W2 Box amount are different....is this correct?

Hello,

On my W2 in question, box 1 (wages) is $6,063 more than box 3 (social security wages). In the previous year, for the same employer, the amounts in those boxes were the same. What is the reason for this? Does the social security have a cap amount?

Thank You.

1287

Expert Alumni

Feb 8, 2025 11:54:22 AM

Yes, the Social Security amount does have a cap. ‌For 2024, that was $168,600.

For more information, see COLA increases for dollar limitations on benefits and contributions and refer to "taxable wage base" for the cap in the current and recent years.

Level 3

Feb 8, 2025 12:33:51 PM

Okay, so, then would that be the reason that box 1 is more than box 3 (box 3 is at its max amount) and anything above the $168,600 would continue as federal tax (box 1). Thank you.

Expert Alumni

Feb 8, 2025 1:49:31 PM

Yes, if your income was more than $168,600, your box 1 income will be higher than your box 3 income.

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W2 Box amount are different....is this correct?