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albert-schmidtiii
February 25, 2025
Question

does this looks like a program error: program says taxable income was reduced by my wifes 401k contributions, but income review does not show reduced w2 amount?

  • February 25, 2025
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    ThomasM125
    February 25, 2025

    No. 401-K contributions will reduce wage income as reported on box 1 on your W-2 form. So, the amount reported in box 1 of the W-2 form will have the 401-K contributions deducted from it. I believe you are expecting to see the W-2 wages before the 401-K contribution reported in box 1, and then the adjusted amount reported on the income review, but they will be the same amount since the W-2 already has the contribution deducted from it.

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