Problem 2-5 Salaries and Wages (LO 2.2) Kristen, a single taxpayer, receives two 2020 Forms W-2 from the two employers the worked for during the year. One Form W-2 lists her wages in Boxes I. 3, and 5 as $18,700. Her other employer's Form W-2 has $43,000 in Box 1 but only $46,500 in both Box 3 and Box S. Kristen participated in the second employer's 401(k) plan. She also received health care from her second employer. Lastly, her second employer provided $30,000 of group term life insurance to Kristen a. What amount should Kristen report as taxable wages in 2020? b. What could explain the difference between Box 1 wages and Boxes 3 and son her second employer's W-2> It would appear that Kristen mades of contributions toward her employer's 401(k) plan. The health care and group term life difference between Box 1 and wages taxable for Social Security and Medicare In Boxes 3 and 5. create a Check My Work 3 more Check My Work uses remaining Previous Next >