Box 12a w2 meaning
WebForm W-2 Reference Guide for Box 12 Codes Your W-2 has four Box 12 lines, labeled 12a, 12b, 12c, and 12d. These lower-case letters are just line labels and have no meaning. … WebWhat does box 12a mean on W-2? The W-2 box 12 codes are: A — Uncollected Social Security or RRTA tax on tips. ... C — Taxable costs of group-term life insurance over $50,000 (included in W-2 boxes 1,3 (up to Social Security wages base), and box 5). Information only. D — Elective deferral under a Section 401(k) cash or arrangement plan.
Box 12a w2 meaning
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WebJan 21, 2024 · To report $4,000 in pretax 401 (k) contributions made last year, enter the following in Box 12: D 4000.00. The total amount reported with Code D includes amounts exceeding the pretax contribution ... WebSep 26, 2024 · These lower-case letters are just line labels and have no meaning. Also, Box 12 usually has “See instructions for box 12”or “See instrs for box 12”. Please ignore – that’s intended for your payroll department. Upper-case (capital) letters in Box 12 stand for different things: Aand B:Uncollected social security and Medicare tax on tips.
WebBox 12 codes show specific amounts of interest for the IRS. See the list at the end of this document for an explanation of what each code means. No more than 4 codes can be listed on a W-2. If more than 4 copies pertain to you, you will receive an additional W-2 to display that information. Box 13: Checkboxes WebDec 1, 2024 · 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. It serves as an annual statement that must be issued to each of your employees and filed with the Social Security ...
WebMay 31, 2024 · The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan on an employee’s Form W-2, Wage and Tax Statement, in Box 12, using Code DD. Many employers are eligible for transition relief for tax year 2012 and beyond, until the IRS issues final guidance for this reporting … WebJun 3, 2024 · Box 12 consists of four sections, 12a-12d. These are just references to organize the space and don't have any significant meaning. W2 Box 12 uses codes A through HH to identify a general potpourri of …
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WebJun 4, 2024 · What does box 12a- S mean on w2 It is a retirement plan contribution , but it technically is not a 401-K (that would be a symbol D). This contribution is from a SIMPLE … dentist in mount airy mdWebHere are the W-2 boxes explained: Box 1 — Shows your employee wages, tips, prizes, and other compensation for the year. You should include this amount on the wages line of your return. If you have more than one Form W-2, or you are married and your spouse also has one or more W-2s, the total of all forms’ Box 1 will be shown on Form 1040 ... dentist in mt airy ncWebMar 4, 2024 · On the W-2 form, box 12 has a number of sub-categories ranging from A to HH. Long story short, the W-2 box 12 codes provide more information and determine if the amount is income for income tax reporting. However, if any amount is gross income, it’s already included in W-2 Box 1. Each W-2 Form box 12 code is either a single or double … ffxiv sliced watermelonWebDec 2, 2024 · Here is the basic meaning of each code: Code A: Uncollected social security or RRTA tax on tips. Code B: Uncollected Medicare tax on tips, excluding additional Medicare tax. Code C: Taxable cost of group-term life insurance over $50,000. Code D: Elective deferral under a Section 401 (k) cash or arrangement plan. ffxiv slaying gear is for what classWeb30 rows · Jun 14, 2024 · Since there are four parts of Box 12 on Form W … ffxiv slither along questWebThe following list explains the codes shown in Box 12 of Form W-2. You may need this information to complete the tax return. A. Uncollected social security or RRTA tax on tips. Include this tax on Form 1040. See " Other Taxes " in the Form 1040 Instructions. dentist in mount washington kyWebUnderstanding Your W-2 Box A: Your Social Security number appears here.; Box B: This is your employer's unique tax identification number or EIN.; Box C: This identifies the name, address, city, state and zip code of your employer.The address may show your company's headquarters rather than its local address. Box D: This is a control number that identifies … dentist in mount washington kentucky