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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6167
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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In box 1 of a W-2. Is the amount shown suppose to have my dependant

Resolved Question:

In box 1 of a W-2. Is the amount shown suppose to have my dependant health insurance deducted from it? Example being my YTD gross on last paystub shows 40,000 but box 1 shows 36,000. Which is not my true gross income.
Submitted: 5 years ago.
Category: Tax
Expert:  Stephen G. replied 5 years ago.

Stephen E. Grizey :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

Stephen E. Grizey :

The W2 as prepared, as you describe it, appears to be correct to me.

Stephen E. Grizey :

Please remember to "Accept", it is the only way we get credit for our work. Feedback, if you have time, and bonuses, where you think they are warranted, are always most appreciated.

Customer :

The W2 does not show the amount taken off my gross in any box, therefore from looking at my W2 you would not know I had anything deducted for health insurance. This to you is correct?

Stephen E. Grizey :

Is the amount that you are talking about related to a Medical Savings Account Plan?

Stephen E. Grizey :

If not, exactly what is it that you are talking about?

Stephen E. Grizey :

I realize that it is related to your dependent health insurance, but if it is exactly $4,000. it appears that it may be part of a plan. That's what I'm asking;

Customer :

I pay out of pocket, pre tax, for my wife's health insurance. my accountant says it should be noted in box 12. It is not. I don't understand how it can not be noted anywhere on the W-2 and just simply deducted from my gross.

Stephen E. Grizey :

In looking over the codes for Box 12, I don't see any that would correspond to that type of deferral; If you would like to look at the instructions for the W2 here is a link to those instructions:

Stephen E. Grizey :

Please remember to "Accept", it is the only way we get credit for our work. Feedback, if you have time, and bonuses, where you think they are warranted, are always most appreciated.

Stephen E. Grizey :

I suggest that you discuss this with your employer and obtain the explanation of exactly what type of deferral plan is being utilized to make the pre-tax health insurance payments for your wife.

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