Should Box 1 and Box 5 on W-2's match?

From: juanb@VNET.IBM.COM
Subject: Should Box 1 and Box 5 on W-2's match?
Date: Mon, 22 Feb 99 08:55:11 EST

Previous Article (by Date): Deducting closing costs on my taxes Andstat@aol.com
Articles sorted by: [Date] [Author] [Subject]

I just started doing my taxes (using TaxCut) and when I began to enter
my W-2 info, it alerted me to the fact that my Box 1 entry (gross wages)
did not match my Box 5 entry (medicare wages). I participate in a
401K at work and usually this explained the difference. But TaxCut
displayed a message stating that the laws were changed and that Medicare
now taxes your gross wages?

Can anyone tell me if my W-2's are incorrect? Or is TaxCut wrong?

Thanks,
Juan

- -

Previous Article (by Date): Deducting closing costs on my taxes Andstat@aol.com
Articles sorted by: [Date] [Author] [Subject]

Go to Jeff Salisbury LWGate Home Page.