What does W2 income consist of when on Social Security?

[buckskinbowman]

I am looking to claim SS later this year as soon as I turn 62. By then I will have earned close to the $22,230 cap before they start reducing SS payments. I am wondering what W2 income is part of that $22,230 cap. Does it include contributions I made to my 401(k) plan? Does it include my employee contributions to my health insurance coverage?

 

[Al18]

Quoting from the SS page “ When we figure out how much to deduct from your benefits, we count only the wages you make from your job or your net profit if you're self-employed. We include bonuses, commissions, and vacation pay.” Link https://www.ssa.gov/benefits/retirement/planner/whileworking.html

 

[buckskinbowman]

Thanks for that information, but it doesn't answer my original question. What comprises W2 income? I know it's wages from my job, but does it also include payments I made towards my company health insurance? What about contributions I made to my 401(k) plan?

 

[audreyh1]

No, it only includes gross wages. It does not include or deduct health insurance plan payments nor contributions to your 401K.

 

[buckskinbowman]

Exactly what I was looking for. Thanks very much!