The "Wages Worksheet" allows you to separate out different types of compensation by taxpayer, or simply have a combined wages amount for all taxpayers on a return.
Users can enter different types of compensation, including wages, Restricted Stock Units (RSUs), Non-qualified Stock Options (NQSOs), bonuses and Deferred Compensation Amounts on a per taxpayer basis in the "Wages Worksheet" in Scenario Analysis.
To access the wages worksheet by clicking the pencil icon in the "Wages" field of the "1040 Income" section in Scenario Analysis. Doing so will bring up the "Wages Worksheet."
Delete any amount in the "Wages from 1040 Line 1" field to open up the Taxpayer 1 and 2 boxes for editing.
(Note that the "Wages from 1040 Line 1" field needs to be empty; entering even a "0" in that field will not free up the Taxpayer 1 and 2 boxes.)
The combined amounts from all entered boxes will show up in the "Wages Used In Income Tax Calculations" note.
"Wages" should reflect taxable wages as would be reported on a taxpayer's W-2. You may find this IRS Form W-2 resource linked here helpful in identifying the different types of taxable wages in consideration for a taxpayer. Remember, some payroll deferrals (like 401(k) contributions) may be pre-tax but are not considered pre-FICA. That said, in order for Holistiplan to accurately calculate the Additional Medicare Tax on wages over $200K/$250K (Single/MFJ), enter the appropriate amount of "Medicare Wages" in the Additional Medicare Tax field. If this field is empty, Holistiplan assumes that the combined wage amount is equal to the wage amount used to determine the Additional Medicare Tax.