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Clients W2 does not show his 401k contribution

Terry53029
Level 14
Level 14
His pay stubs show he has been making contributions, and taxed after the contribution. My question is what happens on the employers W-3 ? if the W2 amounts are shown, then the SS, and medicare tax withheld is wrong. Advice on how to correct, or should I just let client know. It does not affect his tax return.
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IRonMaN
Level 15

Sounds like a W-2c is in order.  Are taxable wages on the W-2 the same as the Social Security and Medicare wages?


Slava Ukraini!

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8 Comments 8
IRonMaN
Level 15

Sounds like a W-2c is in order.  Are taxable wages on the W-2 the same as the Social Security and Medicare wages?


Slava Ukraini!
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Terry53029
Level 14
Level 14
Thanks Ironman for the quick reply, and yes all are same on W2, but paystub shows SS, Medicare on gross. Year end on pay stub and W2 do not match
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IRonMaN
Level 15
Sounds like a W-2c is in his future.

Slava Ukraini!
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Just-Lisa-Now-
Level 15
Level 15
Maybe its a ROTH 401k?  NO codes in Box 12?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Terry53029
Level 14
Level 14
No Roth
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sjrcpa
Level 15
401(k) contributions are subject to SS and Medicare taxes.

Ex-AllStar
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IRonMaN
Level 15
But taxable wages shouldn't agree with SS and Medicare wages if they made a retirement plan contribution.

Slava Ukraini!
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sjrcpa
Level 15
Correct - unless it was a Roth 401k contribution. Box 12 should have codes in it for the contribution.

Ex-AllStar
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