Ohio Qualifying Wages
When we reviewed the 2024 W2 of an Ohio Employee, we noticed that the wages calculated in Box 18 is incorrect. Per the notes for Qualifying Wages, Box 18 should be same like the Medicate Wage (Box 5). Is there any configuration need to be done to reflect the expected result?
The actual computation was:
Gross pay 163,782.81
+ Imputed income 1,217.76
- pre-tax 13702.06 (401K catch up, 401K,Health Insurance and Dental)
= 151,298.51 (Box 18) - Reflected in 2024 W2
The expectation is for pretax to exclude 401k amount.
Gross pay 163,782.81
+ imputed income 1,217.76
- pre-tax 1079.04 (Health Insurance and Dental)
= 163,921.53 (similar with Medicare wage Box 5) - Expected amount
0