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W-2 Question
We just received DH's W-2 in the mail (AF) and I am really confused. We were not sure how taxes would go this year since he received his sign-on bonus and student loan reimbursement (they obviously took out taxes before we got them but I thought it would still show up on his W-2).
Well the amount on his W-2 doesn't seem to add up to be ANY of those amounts! It is too big of a number to be his bonus and too small to be his actual pay (it is equivelant to about 6 months of base pay..no BAH, BAS etc obviously). It *might* be the amount they paid in SL reimbursement (I don't remember the final amount and DH is at work so he can't help) but I think it is about 10K over what they reimbursed.
So confused! If it does turn out to be the SL reimbursement then can I expect 2 more W-2s in the mail at some point? Just wondering before I start playing with Turbo Tax! Our CAC card reader broke so I can't get to DHs pay site!
Just curious if anyone knows if they send out individual W-2s for everything.
Re: W-2 Question
His listed wages do not even cover 6 months of base pay if that makes any sense
To make it easier if we said that DHs: (obviously not real numbers!)
Pay - 50K
Bonus - 50K
SL Reimbursement - 50K
Then the W-2 should have his YTD wages as 150K. But it is listed as YTD wages as 30K
I'm guessing he will have to sometime this week. Ugh! I just want to play with Turbo Tax to see if we are going to end up with a refund or having to owe! Would make a lot of difference in my girls trip to SF this weekend!
He'll probably have to call Finance and have it sorted out. A coworker of mine just got his today and it said his yearly earnings were like 6k. LOL.
Does he have access to MyPay? There's a number listed on the W2 screen to call if you need corrections, I think.
I'm getting to this a day late, but when you said his pay is equal to $50k, are you referring to his base pay or total (including BAH, BAS, and other benefits)? Out of those categories, only his base pay is considered taxable income, so BAH and the like would not be reflected on his W-2.
His bonus is taxable (unless he has a special set of circumstances such as reenlisting while deployed), and I assume his student loan reimbursement is as well, so you might want to call to see whether you should be expecting more paperwork.