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Why my wages box 1 is less

Hello,

 

I wanted to know why my wages in box 1 is less then my SS in box 3 and Medicare box 5?  I haven't changed anything and I have no dependents.

 

I don't want to get in trouble with the IRS and just want to know why that amount is lower this year?

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1 Reply
MayaD
Expert Alumni

Why my wages box 1 is less

Box1 is less than box3 and box5 because you have pre-tax deduction. 

 

Examples of Pre-Tax Deductions:

  • Retirement Savings.
  • 401(k) Contribution Limits. 
  • Employer high deductible health plans and health savings accounts. 
  • Flexible Savings Accounts. 
  • Group Insurance Plans.

Generally these pre-tax deductions are listed in either box 12 or box 14. 

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