Using the last paystub that you were issued during the year:

BOX 1: Wages, tips, other compensation

1. Earnings Section

• Begin with the amount shown as the TOTAL of all Year To Date (YTD) Earnings.
• Subtract the YTD Amount for any earnings listed as "Nontaxable" (Nontaxable Tuition, etc.).

2. Before-Tax Deductions

• Subtract the Total Year to Date (YTD) Deductions from the amount calculated in section 1 above.

3. Employer Paid Benefits & Other

If your annual salary is greater than $50,000:

• Add the Year to Date taxable amount shown as Basic Group Term Life to the amount you calculated in Sections 1 & 2 above.

The net calculation should be the amount shown in Box 1 of your W-2.

BOX 2: Federal income tax withheld

This is the Year to Date (YTD) Amount for Federal Withholding shown in the "Taxes" section of your final yearly paystub.

BOX 3: Social Security wages

Box 1 amount plus Year to Date (YTD) 403(b) and 457(b) Before-Tax Deductions. The 2021 maximum is $142,800 for this box.

BOX 4: Social Security tax withheld

This is the Year to Date (YTD) Amount for "Social Security" shown in the "Taxes" section of your final yearly paystub. This amount is 6.2% of the amount shown in Box 3. The 2021 maximum is $8,853.60 for this box. Vanderbilt has matched your tax contributions with an equal amount.

BOX 5: Medicare wages

Box 1 amount plus Year to Date (YTD) 403(b) and 457(b) Before-Tax Deductions. There is no limit on these wages.

BOX 6: Medicare tax withheld

This is the Year to Date (YTD) Amount for "Medicare" shown in the "Taxes" section of your final yearly paystub. This amount is 1.45% of the amount shown in Box 5. An additional Medicare surcharge tax of 0.9% on wages in excess of $200,000 was withheld. Vanderbilt has contributed 1.45% of the amount shown in Box 5.

BOX 8-9: Not applicable for Vanderbilt University

BOX 10: Dependent care benefits

Note: This box includes Dependent Care Personal Spending Account deductions.

BOX 11: Nonqualified Plans

BOX 12: Multiple items may appear in these boxes.

The following codes may appear:

Guidelines for other codes that may appear are explained on the back of the W-2.

BOX 13: The following boxes may be checked:

• Statutory Employee - Not applicable for Vanderbilt University
• Retirement Plan - this box would be checked if you are enrolled in the Union Pension Plan, or make mandatory or voluntary 403(b) retirement contributions
• Third Party Sick Pay - Not Applicable for Vanderbilt University

BOX 14: Multiple items may appear in this box.

The following items could appear:

• Taxable Auto - personal use of Vanderbilt-provided automobiles
• Taxable Tuition - taxable tuition benefits paid to you, or on your behalf

BOX 16 - 20: State and Local Tax Information

These boxes should be used only for faculty, staff or students who are residents of, or work in a state where Vanderbilt is a registered employer.

Employers are required to have W-2s available by January 31st.

There is nothing you need to do – this will not affect your tax return. Once your W-2 has been created, you will not be able to update the address on it.

Vanderbilt cannot provide any tax advice. Please refer tax‐related questions to your tax preparer, personal accountant or refer to IRS.gov.

The W-2 reflects taxable earnings while the check stubs reflect total earnings. To reconcile your W-2 to your last payslip, start here.

Students of who are enrolled on at least a half time schedule are exempt from Social Security and Medicare taxes. Certain foreign nationals on specific visas are also exempt from these taxes.

Box 12 is where you will see all kinds of codes. Not all income coded at box 12 is taxable. For a complete listing of the codes, click here.

Contact Payroll at payroll@vanderbilt.edu to update your name or social security. Once that is completed, you will receive a W-2 which you will use with your original W-2 to file your tax return.