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  1. #1
    Join Date
    Apr 2011
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    182

    Default Taxable Income > Gross Income

    How can taxable income be higher than gross income? Letís say gross income is $100. Taxable income shows $115. How could that be?

  2. #2
    Join Date
    Oct 2006
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    16,474

    Default Re: Taxable Income > Gross Income

    Quote Quoting jyeh74
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    How can taxable income be higher than gross income? Let’s say gross income is $100. Taxable income shows $115. How could that be?
    What document is showing that? Is it a W2, a 1099 of some sort or something else? The potential reasons could vary depending on what kind of form you are talking about.

  3. #3
    Join Date
    Apr 2011
    Posts
    182

    Default Re: Taxable Income > Gross Income

    It’s a biweekly paycheck that shows current vs YTD.

  4. #4
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Taxable Income > Gross Income

    Quote Quoting jyeh74
    View Post
    It’s a biweekly paycheck that shows current vs YTD.
    Most likely that means that you have some sort of employee benefit that is taxable. You should direct your inquiry towards your HR department as to what that is.

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