Paycheck W2 Gross Amount Different

Question

I've been using Paycheck Income Reminder forever. I just went to my paycheck today to go line by line with my actual paycheck to verify all of the deductions and transfers were correct and they were.

I just noticed that the W2 Gross listed in Quicken is lower than my actual paycheck gross that's listed. All deductions and Net Pay are correct though.

What's making Quicken get a different W2 Gross amount?

micdif · Answer

Anja,

When I started Quicken I ran an update. I'm now running R60.20 Build 27.1.60.20. File saved in Dropbox.

I then ran One Step Update. Not sure when the issue started happening. I just noticed it this time when I was validating the Quicken paycheck data with my paycheck online with my work system. I verify my paycheck amount and deductions when I get paid bi-weekly but I never really looked at that Gross Amount since my Net amount and all of the deduction amounts were correct.

The difference in the W2 Gross Amount is ~$1800. Quicken is showing that much more than the Gross amount shown on my payroll system. I can't really show a screenshot since I have private information.

volvogirl · Answer

It’s probably like the actual W2 that you will get from your employer.  Your paystub won't match the W2.  There are several items that affect the amounts.  Especially pre-tax deductions are not in the gross.  I never could figure out my husbands paychecks.  His Medical insurance premiums are not only exempt from income tax but from Social Security and Medicare taxes as well. Consequently these premiums will not be included in either W2  boxes 1, 3, or 5.

Quicken Anja · Answer

Hello @micdif,

We apologize for any inconvenience this issue may be causing.

When did this issue first start to occur? Did anything significant happen before you noticed it (installed a new update, ran One Step Update, etc)? Can you please tell us where your data file is located on your computer— do you have it saved in a folder located on your local hard drive (C: drive), or in a cloud-based/external drive (OneDrive, DropBox, USB, etc)?

Also, could you please provide a screenshot of what you are seeing? If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments.

Thank you!