hello:
My employer puts money into a 403B acct. for me, and i contribute a small sum myself into a same kind of account through my employer.
Is this money included in the figure "wages, salaries, tips?"
Thanks.
2007-03-03 03:55:02 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No, your contribution amounts are pre-tax and are not included in Box 1 on your W-2 (taxable wages). Use the amount from Box 1 and report it on the line for wages, salaries, etc.
2007-03-03 04:02:32 · answer #1 · answered by tma 6 · 2⤊ 0⤋
No its in a seperate box on the W-2
2007-03-03 03:59:35 · answer #2 · answered by elaeblue 7 · 1⤊ 0⤋
no - your pension is "pre-tax" money and is deducted from your taxable wages.
That's why "wages," "Social Security wages," and "Medicare wages" can all be different. They are calculated differently.
2007-03-03 04:44:39 · answer #3 · answered by ? 4 · 0⤊ 0⤋
It's pretax. You don't pay on it until you retire. It should have a separate listing on your W-2 form.
2007-03-03 04:00:53 · answer #4 · answered by nursesr4evr 7 · 1⤊ 0⤋
....wat??
2007-03-03 04:30:01 · answer #5 · answered by Lights Out #3 5 · 0⤊ 1⤋