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January 14, 2022
Question

Why is w2 box 3 less than box 1 for hourly employees with no pretax deductions

  • January 14, 2022
  • 1 reply
  • 0 views
But, medicare wages in box 5 equal box 1. None of these employees are anywhere near social security caps - mostly part time college students

1 reply

January 14, 2022

Thank you for reaching out to the Community, @kathie8. Let me share some insights regarding W2 boxes in QuickBooks Online (QBO).

 

QuickBooks Online is dependent on your employees' paychecks. You may see that the amounts in boxes 1, 3, and 5 differ and wonder whether something is amiss. The differing amounts are correct in some circumstances.

 

Box 3 contains information about your employee's social security wages. If you expect that something is incorrect, you can review your employee's paycheck before you submit your W2 to the IRS.

 

In addition, you can check out the following articles for your reference about understanding amounts on an employee’s W-2 and getting answers to your W-2 questions.

 

 

Let me know if you have further questions about payroll forms. The Community is always here to assist you. Have a great day!