Why doesn't the amount in Box 5

Why doesn't the amount in Box 5 (Medicare wages) match the total ...

This differs from your gross earnings because there are certain deductions that reduce your Medicare taxable wages, such as pretax medical/dental and vision ...

Why aren't the amounts in boxes 3 and 5 the same as box 1?

Box 1 (Wages, Tips and Other Compensation) represents the amount of compensation taxable for federal income tax purposes while box 3 (Social Security Wages) ...

1098-T : Timeline for Box 1 and Box 5 don't match - TurboTax Support

... doesn't match). If I generated the "expected ... I did pay the correct amount on Box 1 but is not matching with the timeline of Box 5.

Why is the difference between Box 5 and Box 1 in my 1098-T greater ...

It's clear that Box 5 on the 1098-T includes all the money that was ... doesn't make sense now that I look at it either. That said, I ...

Explanation of IRS Form 1098-T - Student Accounts

Please consult a tax prepared regarding what this means to your individual tax situation. The amount reported in BOX 5 does not include: Tuition ...

If box 1 and 5 of 1098T match, nothing needs to be done right?

... number, but then box ... But Im confused and have never heard of 529 rinsing before (and a quick google search doesn't bring up anything).

Information and FAQs about IRS Form 1098-T

Q3: Why doesn't Box 1 equal what I have paid? A3: Box 1 ... Q4: On my 1098-T, the amount in Box 5 is greater than the amount in Box 1, but I know I.

Box 5 on your 1099R: “Non-taxable payments” - IMRF

If you made IMRF member contributions since 1984, the money used to pay those contributions has not been subject to federal income tax. The member contributions ...

1099-R - Box 5 (1099R, ScheduleA) - Drake Software

Why doesn't my entry in box 5 of the 1099-R carry to Schedule A as a medical expense? According to the instructions for Form 1099-R, box 5 may include any of ...

On my 1098-T, box 5 is greater than box 2, by 1.2k USD. I'm ... - Quora

When Box 5 is greater than Box 1, it usually means that all of your tuition expenses were paid by scholarships and grants.

What do the W-2 boxes and W-2 form codes mean? - H&R Block

Box 4 — Shows the amount of Social Security tax withheld from your pay. Box 5 — Shows your wages subject to Medicare tax. ... A passport that doesn't have a ...

1099 box 5 challenge - General Chat - ATX Community

My new clients are challenging me on their 1099R. Boxes 1 and 2 (gross and taxable) are both the same. Box 5 has an amount in it.

Instructions for Form 1099-B (2024) | Internal Revenue Service

If you check box 5, you may leave boxes 1b, 1e, 1f, 1g, and 2 blank ... Do not enter an amount in box 1e that is greater than the amount entered in box 1d.

Form 1098-T When scholarship amount (box 5) is greater than the ...

Form 1098-T When scholarship amount (box 5) is greater than the tuition paid (Box 1) is the difference taxable income to.

Report Tax Free Scholarship Amount that exceeds 1098-T Box 1 ...

I received a 1098-T with an amount in box 5 greater than the amount in box 1. ... box doesn't help since this box is for the AOTC.

Form 1098-T Information – NSHE System Administration

The amount in this box should be the sum of all reductions in tuition (refunded or not) related to amounts billed in a prior year. This amount is reported as a ...

Incorrect Box 5 on 1098-T - Bogleheads.org

I just wonder whether we can change the amount in Box 5 from 70K to 50K when she files tax this year. ... My professional tax software doesn't ...

Instructions for Forms W-2G and 5754 (Rev. January 2021) - IRS

Enter any federal income tax withheld, whether regular gambling withholding or backup withholding. Box 5. For a state lottery, enter the ticket number or other ...

A graduate student received a 1098T with a larger amount in box 5 ...

The school explained that the box 5 amount was a combination of what the school paid for the student's required health insurance and the student's out of state ...

Form W-2 Box 1: Why Are Box 1 Earnings Less than Boxes 3 and 5?

Because some benefits are not subject to federal income tax, Boxes 1 and 3 (as well as Box 5) can have different values. Likewise, you may see W ...