Medicare wages and tips are the total amount of earnings your employer paid you subject to Medicare tax. Medicare tax withheld represents 1. This box shows tip income allocated to you by your employers. The amount of tips earned that is subject to Social Security Tax. The amount in Box 3 and Box 7 should total the amount in Box 1.
The total amount paid into your dependent care flexible spending account for the year. The amount of your wages subject to state tax. This amount might differ from the amount shown in Box 1.
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What do all the boxes on my W-2 mean? Box 2: Federal Income Tax Withheld Federal income tax withheld is the amount of money withheld from your wages reported in Box 1. Box 3: Social Security Wages The amount of earnings your employer paid you - not including tips - subject to Social Security tax.
Box 5: Medicare Wages and Tips Medicare wages and tips are the total amount of earnings your employer paid you subject to Medicare tax. Box 6: Medicare Tax Withheld Medicare tax withheld represents 1. Box 8: Allocated Tips This box shows tip income allocated to you by your employers. Box Dependent Care Benefits The total amount paid into your dependent care flexible spending account for the year.
Box Compensation and Benefits Click to see the codes included This box is used to indicate a compensation or benefit by code. Include this tax on Form B — Uncollected Medicare tax on tips. D — Elective deferrals to a section k cash or deferred arrangement. E — Elective deferrals under a section b salary reduction agreement. F — Elective deferrals under a section k 6 salary reduction SEP. G — Elective deferrals and employer contributions including non-elective deferrals to a section b deferred compensation plan.
H — Elective deferrals to a section c 18 D tax-exempt organization plan. J — Nontaxable sick pay information only, not included in Boxes 1, 3, or 5. L — Substantiated employee business expense reimbursements nontaxable. P — Excludable moving expense reimbursements paid directly to a member of the U. Armed Forces not included in Boxes 1, 3, or 5. Q — Nontaxable combat pay. See the instructions for Form or Form A for details on reporting this amount. T — Adoption benefits not included in Box 1.
Complete Form , Qualified Adoption Expenses, to compute any taxable and nontaxable amounts. Box 5: Medicare Wages and Tips. This represents income subject to Medicare tax.
There is no maximum wage base for Medicare taxes. Box 6: Medicare Tax Withheld. This amount represents the total amount withheld from your paycheck for Medicare taxes. The Medicare tax rate is 1. Box Dependent Care Benefits. This amount represents any amount reimbursed for dependent care expenses through a flexible spending account. Only dependent care benefits are reportable in this box.
Box Other — This box may be used by an employer to report any additional tax information e. Box State wages, tips, etc.
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