Box #1 wages 24443.36 # 3 soc sec wages 24430.38 # 4 soc sec tax withheld 1026.09 Box # 5 medicare 24430.38 # 6 medicare withheld 354.23# # 16 state w/h (MN) 24430.38
My coworker said box # 1 and 16 should match My pay stub from last year says I earned 24430.38 where is the 12.98 coming from?
Anonymous
Favorite Answer
They don't always match. If they always matched they wouldn't complicate the matter by making separate boxes.
The extra $12.98 could be some sort of benefit that is taxable at the federal level but not the state level. For example if your employer provides life insurance through a group policy the premiums paid by the employer are often taxable for federal but not state. $12.98 seems about right if they have a small life insurance benefit.
Its also possible that its something like an FSA over payment or if you won some sort of prize like if you won a sales contest and they gave you movie tickets or something.
Most likely, your W-2 is correct. Just enter the numbers exactly as shown into your tax software and it will take care of everything. If you want an exact explanation, go see your HR or payroll department.
donaldson
W2 Box 16