W-2 Explainer

W-2 Form Explained — Every Box Decoded

Enter your W-2 values to find out if you are getting a refund or owe money — plus a plain-English explanation of every box on the form.

Box 1 — Wages ($)

Box 2 — Fed Withheld ($)

Box 12 — 401(k) ($) code D

Filing Status

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Find out if you are getting a refund

Every W-2 Box Explained

Box 1Wages, tips, other comp

Your total gross pay for the year. This is NOT your salary — it already has 401(k) pre-tax contributions subtracted.

Box 2Federal income tax withheld

How much federal tax your employer already sent to the IRS on your behalf throughout the year.

Box 3Social Security wages

Wages subject to Social Security tax. Usually the same as Box 1 but can differ if you earn over $176,100.

Box 4Social Security tax withheld

6.2% of Box 3 wages, up to the $176,100 wage base in 2025. Your employer matches this amount.

Box 5Medicare wages and tips

All wages subject to Medicare tax — no cap, unlike Social Security.

Box 6Medicare tax withheld

1.45% of Box 5 wages. Plus 0.9% additional Medicare tax if you earned over $200,000.

Box 12Deferred compensation (401k)

Code D = traditional 401(k) pre-tax contributions. This amount reduces your federal taxable income (Box 1 already reflects this).

Box 16State wages

Wages subject to state income tax. May differ from Box 1 if your state has different rules for retirement contributions.

Box 17State income tax

State taxes withheld throughout the year. Compare to your actual state tax owed when filing your state return.