Retirement deductions (pay, account, income, payroll)

[urbandeco]

I looked at my end of the year salary (gross). It seems much lower. I have a certain amount deducted to put into a 403b retirement account. I know I am not taxed on this but shouldn't this be included in my pretax salary on my end of the year tax form.

[christina0001]

Yes, I believe it should, but it could depend on what sort of form you are looking at. Check with your human resources or payroll person.

[sweetana3]

If the money is going into a tax deferred account like a 401K or a 403B (I think), it only appears in the income subject to FICA block on the W-2. It should not appear in the block (block 10 I think) for taxable income. Since it is deferred, it will be taxed when taken out of the tax deferred account. But you still have to pay FICA on the full amount unless you have exceeded the limit.


It also depends on what form you are looking at. If it is your year end statement, perhaps they have already removed the tax deferred amount so your year end taxable income = W-2 taxable income.

Far better to ask your payroll office.

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