W 2 Box 12 Codes

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 W2 Box 12 codes are:

The UPPER-CASE (capital) letters in Box 12 stand for different things and ar

e listed below. These are the letter codes you'll need to enter into TurboTax. 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.

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.

The code and the corresponding amount must go in Box 12. Since there are fou

r parts of Box 12 on Form W-2 (12a, 12b, 12c, and 12d), you 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.

Your W-2 has four sections in Box 12 labeled 12a, 12b, 12c, and 12d. These l

owercase letters don’t mean anything. They just give your employer space to provide more information you need to prepare your tax return. Each amount entered in Box 12 has an uppercase code that stands for something.

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

For example, if you are only required to report code D in box 12, you can en

ter code D and the amount in box 12a of Form W-2. Report in box 12 any items that are listed as codes A through HH. Do not report in box 12 section 414(h)(2) contributions (relating to certain state or local government plans).

Box 12 — Various Form W-2 Codes on Box 12 that reflect different types of

compensation or benefits. A — Uncollected Social Security or RRTA tax on tips. Include this tax on Form 1040. B — Uncollected Medicare tax on tips.

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.

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.

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...

Form W-2 Box 12 Codes Compensation and Benefits; Code A: Uncollected Social

Security or RRTA tax on tips. Include this amount as part of your total tax on Form 1040. Code B: Uncollected Medicare tax on tips. Include this amount as part of your total tax on Form 1040. Code C:

Code V in box 12 of the W-2 indicates income from the exercise of non-statut

ory stock options. Per IRS General Instructions for Forms W-2 and W-3: "Code V—Income from the exercise of nonstatutory stock option (s).

Box 12. This box lists a wide variety of important figures with codes next t

o them for identification. The most frequently seen codes on military W-2s are AA, D, and Q. Code AA represents Roth TSP ...

" Your payroll deductions for the HSA account will be shown on your W-2 in B

ox 12, marked code 'W'. Because your payroll deductions were taken pretax, they are considered 'employer contributions' and are to be entered on Line 9 of form 8889. Do not enter UCAR payroll deducted contributions on Line 2.

Sec 83i Qual. Equity 941: Included in wages (lines 2) Sec 83i Qual. Equity 9

44: Included in wages (lines 1) Sec 83i Qual. Equity W-2: Increases wages (boxes 1); reported in box 12 code GG; About code HH. Code HH is a deduction item for reporting aggregate deferrals under section 83i elections as of the close of the calendar year.

W-2 Wage and Tax Statements are out for 2013, and you may be wondering what

all those numbers really mean. ... For most people, this will be the amount in Box 1 plus the amount in Box 12, Code Q ...

The following list explains the codes shown in box 12. You may need this inf

ormation to complete your tax return. Elective deferrals (codes D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE) under all plans are generally limited to a total of $18,000 ($12,500 if you only have SIMPLE plans; $21,000 for section 403(b) plans ...

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.

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 -

Employers may need to issue a Form W-2c without the information in box 12, c

ode P in those cases where tax filing software or a third-party tax preparation provider is rejecting 2018 Forms W-2 with information included in box 12, code P for civilian employees.

This income should be shown in Box 12 of Form W-2 with Code Z, or in Box 15b

of Form 1099-MISC. The tax is 20% of the amount required to be included in income plus an interest amount determined under Section 409A(a)(1)(B)(ii). Refer to Section 409A(a)(1)(B) for details. Identify as "NQDC."

W-2 Form Box 12 Code FF Form W-2 is the IRS tax form used to report all empl

oyee income that has social security or Medicare tax withheld. Form W-2 also reports all compensations and benefits offered during the tax year.

Form W-2 - Employer Contributions to Your Health Savings Account (HSA) If yo

u have an amount reported in box 12 of your W-2 (Code W) for employer contributions 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:

Form W-2, Box 12, Code L amount will transfer to Form 2106, Line 7, which st

ates - "Enter reimbursements received from your employer that were not reported to you in Box 1 of Form W-2.Include any reimbursements reported under Code "L" in Box 12 of your Form W-2 (see instructions).

How to Fill Out Box 12 on a W2. When an employer gives you a W2, it will hav

e Boxes 12a through 12d. Any amount that is on a Box 12 line will also require an upper-case letter conde form the list above. If the box doesn’t have any of these codes, you don’t have to fill anything out. Simply move to Box 13.

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.

These figures can be found on their W-2 statement in Box 12a through 12d, it

ems D, E, G, H, and S. Do not include item DD. Enter the sum of these items. Child support received: Check the box if your parent / parents received child support from a non-custodial parent. Then enter the amount received.

What are the codes in W-2, Box 12? If Box 12 on your W-2 is empty, don't ent

er anything for Box 12.If you have more than one item showing for Box 12 on your W-2, enter each item on a separate line. The following list explains the codes shown in W-2 Box 12. A - Uncollected social security or RRTA tax on tips. You'll have an amount here if you had tips and your employer didn't withhold social ...

Yes, employees who have contributed to the PST retirement plan will have the

contributions reported in Box 12 with code “G”. However, employees who contributed to the ARP plan will not have the contributions reported on Form W-2. What other amounts are reported in Box 12? Code “C” - The imputed value of Group Term Life Insurance ...

In Box 12 of Form W2, employers can report other forms of payments made to e

mployees. The most common use of Box 12 is for employee reimbursements for business expenses. The Box 12 code for the employee reimbursements is “L”. This is the Box 12 code for employee reimbursements.

I have a client with over $500K in box 12 with a code V. I have the 1099-B f

rom the broker and it shows cost basis of what he bought it for but it does not include the $500K that was included in income. That has normally never been a problem for me. I just put the amount that was included in the W-2 on the worksheet as an adjustment and it's ...

If you choose to use Quick Entry, select code W for box 12 and enter the amo

unt. If you choose to use Step-by-Step Guidance, follow steps 4 and 5 below. Continue to the screen titled Wages - W-2 - Information with fields for boxes 12 and 13

The value in Box 1 is lower than the values in Boxes 3, 5, 16, and 18. You c

an also see that there are W-2 Box 12 codes and values. And, there is a check mark in Box 13. This example Form W-2 shows that the employee contributed $1,000 to a pre-tax retirement plan, reducing their taxable wages by $1,000.

On my W-2, in box 12, I have a certain amount with code V in it. Per my unde

rstanding, Code V is Income from exercise of nonstatutory stock options, which is already included in my W-2 as income. I am confused on what I need to do about this, regarding tax reporting. Based on my research I got two conflicting answers: 1. Do nothing.

Form W-2 Boxes: Line by Line Instructions. Updated on January 20, 2021 - 10:

30am by, TaxBandits. If you operate a business and pay your employees, you are required to file Form W2 with SSA.You must also send a copy of Form W2 to each employee before January 31 annually.

How to Read RSUs on Form W-2 . The value of RSUs is typically recorded in Bo

x 14 of the W-2, which is labeled "Other." Box 14 doesn't have a standard list of codes. This allows employers to enter any description they like, but you might see the value of your vested stock followed by "RSU."

January 12, 2021 Employers must report all employer and employee Health Savi

ngs Account (HSA) contributions made through payroll as a single aggregated amount on the employee’s form W-2 in Box 12 using code W.

How to read your W-2 Form. This is a guide on how to read your W-2 form. Pre

paring W-2 forms for filing with the Social Security Administration can be tricky. This article will help: Employer seeking to fill out the forms correctly. Employees trying to understand the numbers reported on their W-2.

This information appears in box 12 of the W-2 and it's coded "DD." It doesn'

t affect the employee's tax situation, but you must nonetheless submit form W-2c to correct any mistakes here, according to the IRS. Mistakes with Retirement Contributions .

Enter the federal tax withheld from box 2 of the W-2 into box 2 on the W-2 w

indow. If the wages in box 1 are the same as in box 3 and box 5, press ENTER to move past those boxes and the wages and taxes withheld will fill in automatically. For taxpayers who have contributed to a 401(K), IRA, etc., enter the codes and amounts from box 12.