Form W 2 Line 12 Codes

If you have an amount listed on your W-2 Box 12, it could be one of several

things. The W-2 Box 12 codes provide more information and determine if the amount is income. However, if any amount is gross income, it’s already included in W-2 Box 1. Each W2 Form box 12 code is either a single or double letter code.

The lines labeled 12a, 12b, 12c, and 12d (sometimes listed as 12a-d) on your

W-2 are just line labels, not codes. Don't enter these line labels. For example, if you see "D" on line 12a, enter "D" in TurboTax, not "a". And if line 12a is blank, don't enter anything.

Box 12 Code. Description. A. Uncollected social security or RRTA tax on tips

. B. Uncollected Medicare tax on tips (but not Additional Medicare Tax) C. Taxable cost of group-term life insurance over $50,000. D. Elective deferrals under a section 401(k) cash or deferred arrangement plan (including a SIMPLE 401(k) arrangement) E

Form W-2 Box 12 Codes. These are the uppercase codes you might see in Box 12

of your W-2, as well as what each of them means. A. Any uncollected Social Security tax or Railroad Retirement Tax Act (RRTA) tax on tips. Include this amount in your total tax liability on Schedule 2, which you file with your Form 1040. B.

Form W-2 Box 12 Codes There are several types of compensation and benefits t

hat can be reported in Box 12 of Form W-2. Box 12 will report a single letter or double letter code followed by a dollar amount. The following list explains the codes shown in Box 12 of Form W-2.

Since there are four parts of Box 12 on Form W-2 (12a, 12b, 12c, and 12d), y

ou can put up to four codes and amounts on the W-2. If you need to report more than four, you will need an additional Form W-2. Box 12 is highlighted in the Form W-2 below, courtesy of the IRS. There is a vertical line dividing each section of Box 12.

Report the IRS code to the left of the vertical line in boxes 12a through 12

d and the money amount to the right of the vertical line. See the Form W-2 Reference Guide for Box 12 Codes. The detailed instructions for each code are next.

Reporting on the Form W-2. Employers that are subject to this requirement sh

ould report the value of the health care coverage in Box 12 of the Form W-2 PDF, with Code DD to identify the amount. There is no reporting on the Form W-3 of the total of these amounts for all the employer’s employees.

Code W in Box 12 of your W2 indicates that you have an employer-sponsored He

alth Savings Account and that there was money deposited into your HSA through the payroll system at work. Code W opens up Form 8889, Health Savings Accounts, on your tax return. You may also receive a Form 1099SA if you spent any of the money in your HSA.

According to the W-2 instructions from the IRS, the following list explains

the codes shown in box 12 on the W-2: Box 12 Code. Description. A. Uncollected Social Security or RRTA tax on tips. B. Uncollected Medicare tax on tips. C. Taxable cost of group-term life insurance over $50,000. D.

Problem Description Understanding W-2 Box 12 Codes. Solution Description Wag

es, Salaries and Tips If additional items are listed in box 12a-12d of Form W-2, click the list box and select the letter code that is listed on the left hand side of the box. The letters represent the following accord...

W-2 Box 12 Codes SOLVED • by Intuit • Lacerte Tax • 8 • Updated Apri

l 17, 2020 If additional items are listed in box 12a-12d of Form W-2 , click the list box and select the letter code that is listed on the left hand side of the box.

The amount with code "W" in box 12 of your W-2 is the sum of the amounts tha

t your employer contributed to your HSA AND that you contributed through a payroll deduction scheme. If either you or your employer made contributions to your HSA (as the copy printed at home would seem to indicate), then the W-2 that you received in the mail is incorrect.

You will see that for both the W2 and Form 8889, cafeteria plan contribution

s function just like employer contributions, not employee contributions. Employer vs. Employee Contributions on W2 When you receive your W2 at year end, you will have a Box 12 marked with “W” and your employer contributions for the year.

Lines a, b, c, and d of Box 12 on Form W-2 contain miscellaneous additional

compensation and benefits, each identified with a letter code. List of Box 12 Codes. A and B: Uncollected social security and Medicare tax on tips. This amount represents the social security and Medicare tax on the tips you reported to your employer.

Box 12 amounts with the code DD signify the total cost of what you and your

employer paid for your employer-sponsored health coverage plan.. Code DD amounts are for informational purposes only — they don't affect the numbers in your tax return. Nevertheless, you should enter the Code DD and the amount of your employer-sponsored health coverage plan if you see it on your W-2.

If you have an amount reported in box 12 of your W-2 (Code W) for employer c

ontributions to your health savings account (including contributions through a cafeteria plan), then you will need to complete IRS Form 8889 Health Savings Account. To enter the W-2 box 12 amount:

On Form 4137 you will calculate the social security and Medicare tax owed on

the allocated tips shown on your Form(s) W-2 that you must report as income and on other tips you did not report to your employer. By filing Form 4137, your social security tips will be credited to your social security record (used to figure your benefits).

A friend made HSA contributions during 2018 of $5,200. They show on his W-2

on line 12 Code W. His Form 5498-SA on line 2 shows $6,200. The difference of $1,000 represents 4 cash "rebates" of $250 deposited to his HSA during 2018 coded as "United Health Care Motion Reward" on his HSA annual history report.

In box 12a on his W-2 with the code DD, is the whopping amount of $17,108.00

! That means his company is paying a difference of $13,214.00 per year or $254.12 per week for the remainder of our health insurance premiums.

The Lacerte program will take the amount from the W-2 Box 12 code L and repo

rt it on the 1040, line 1 as income if a 2106 is required based on Screen 30, Vehicle/Employee Business Expenses (2106). Any reimbursement amount that is greater than the expense, will flow to the 1040 line 1 as additional income.

If more than four codes in Box 12 must be entered, select the Save and Creat

e a New W-2 button to enter the additional Box 12 codes in a new W-2 form. The new W-2 will count towards the limit of 50 Forms W-2 per report.

To enter or edit other Form W-2, Box 14 information: From within your TaxAct

return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then choose Federal. Click Wages and Salaries in the Federal Quick Q&A Topics menu to expand the category and then click Wage income reported on Form W-2

NEW YORK — Most of the information on your W-2 is self-explanatory, but ju

st what is reported in Boxes 12 and 14? Here are the most common items reported in Box 12, identified by alphabetical code -

Many employers are required to report the cost of an employee's health care

benefits in Box 12 of Form W-2, using Code DD to identify the amount. This amount is reported for informational purposes only and is NOT taxable. It is included in Box 12 in order to provide comparable consumer information on the cost of health care coverage.

Both W-2 Box 14 and Box 12 allow employers to report certain types of income

, taxes and benefits for their employers. But Box 14 includes a long list of codes that correspond to each specific entry while Box 12 allows employers to report entries that do not neatly fit into other W-2 form fields.

An amount with code P will transfer to Line 4 of Form 3903 for moving expens

es. Form 3903 can be completed for the amount of moving expenses paid by the taxpayer. If a moving expense deduction is computed, it will be reported on Line 26 of Form 1040. To enter the W-2 box 12 amount:

W-2 12A Code E Definition. When Box 12A of your IRS Form W-2, Wage and Tax S

tatement, has an E in the code box, the amount that follows is the amount of salary you had deferred as allowed by Section 403(b). If you were eligible to catch up on your pension contributions due to a previous year's military service, ...

On the W-2: Enter [Taxpayer's] information from Box 14 screen, enter the inf

ormation listed on the W-2 you received. Click View More in the shaded box on that screen for additional guidance. Entry of information in Box 14 does not automatically transfer to any other form in TaxAct. The information you enter on the W-2 odds and ends screen is ...

Form W-2 reports earnings from employment and taxes withheld from those earn

ings to both an employee and the IRS. Employees use this information to prepare their annual tax returns. You can contact the IRS at 800-829-1040 if an employer won’t or doesn’t give you a Form W-2 by mid-February of the new year.

I've got a W-2 with a code 'V' in line 12 for stock options I execised in 20

14. These option exercises are also listed on the form 1099 I got from the broker, with the strike price of the options listed as the basis price. When I file form 8949, do I adjust the basis price based on the code v amount, using code b in column f of form 8949, or is this some other kind of adjustment, as the ...

The contribution will not automatically populate on box 12 with code DD in t

he W-2 form. You'll have to manually report the health coverage by following these steps: On the left panel, click Taxes. Choose Payroll Tax. Under Form, click the Annual Forms link. Click the W-2, Copies B,C & 2 link.

Select Interview Form 21 - 1040 Adjustments, Other Taxes, Payments, & Refund

able Credits. In box 55 - Other Taxes Description input as needed. In box 56 - Code input 12. In box 57 - Amount enter in the code "Z" amount. Calculate. Notes: This other taxes amount will be included in the total tax line (line 61) of the 1040.

If I had box 12a on my W-2 form,with a code C and an ... Top Offers From ttl

c.intuit.com · Box 12 with a code c is the taxable cost of group-term insurance over $50,000. If you had group term life insurance through your workplace, the premiums for any value over $50,000 become taxable income to you and are included in box 12.Enter your W-2 form with the box 12 code C in your tax return.

A W-2 form, also known as the Wage and Tax Statement, is the document an emp

loyer is required to send to each employee and to the Internal Revenue Service (IRS) at the end of the year. A W-2 ...

Box 12 – This box shows amounts that may be taxable income, or have been a

lready taken out of your taxable income, such as contributions to your 401k, taxable life insurance premiums, or reimbursements for work-related business expenses. See the complete listing and explanations of Form W-2 box 12 codes.

Let me share how QSEHRA show’s on W2. The QSEHRA or qualified small employ

er health reimbursement arrangement will show on line 12 as Code FF on the W-2 form. You can check this article for reference: Overview of forms W-2 and W-3 .

Line 12R - Employer W-2 Wages - Amounts reported in Box 12, Code R represent

the amount of Form W-2 wages reported to the taxpayer by the corporation and is used to calculate any Domestic Production Activities Deduction. The amount entered in this field will automatically flow to line 17 of Form 8903.

Also, you can get ahead start on Form W-2, because TaxBandits is already acc

epting returns for 2019. W-2 Form Box 12 Code FF . Form W-2 is the IRS tax form used to report all employee income that has social security or Medicare tax withheld. Form W-2 also reports all compensations and benefits offered during the tax year.

The code for my W-2 (Box 14) is not listed. What do I enter? What do the cod

es mean in Box 12 of my W-2? What is considered a qualified education expense and what can I claim? Form 1065, Schedule K-1 Box 20 Information; How do I report more than 4 Box 12 entries on my W-2?

The amount from Box 1 is reported on Line 7 of your Form 1040 or 1040A, or o

n Line 1 of Form 1040EZ. If you have several W-2 forms, add up the Box 1 amounts and enter the total. Box 2: Box 2 reports the total amount your employer withheld from your paychecks for federal income taxes.

HSA question: Form 5498-SA (2012) Box 2, shows $1,9xx and Form W-2 (2012) Bo

x 12d, code W shows exactly the said $1,9xx. Is $1,9xx deductible on Form 1040, Line 25, HSA deduction? Does Form 5498-SA (2 … read more