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It’s important to understand the instructions for box 12 on the IRS form W-2 whether you are doing taxes yourself or getting help from a tax pro. The W-2 box 12 codes are: A – Uncollected Social Security tax or Railroad Retirement Tax Act (RRTA) tax on tips.
5 cze 2024 · If you are not familiar with Box 12, there are currently 26 codes to report certain compensation and benefit amounts. The codes range from life insurance coverage to the amount you contributed to an employee’s adoption expenses.
The UPPER-CASE (capital) letters in box 12 report different things to the IRS. Here's a list of what each one means. Box 12 codes. A: Uncollected social security or RRTA tax on tips reported to your employer; AA: Designated Roth contributions under a section 401(k) plan
23 sty 2024 · Box 12 on your W-2 form reports several different types of compensation and benefits. If applicable, this box will indicate a single or double letter code followed by a dollar amount. Here’s what those codes mean:
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.
29 mar 2024 · Understanding Box 12 Codes and Their Impact on Taxable Income: Box 12 of your W-2, ranging from codes A to HH, includes diverse types of compensation and deductions, which can significantly impact your taxable income, and for more details, one should see Form 1040 instructions.
The W-2 Box 12 codes that are used in Employees > Deductions & Benefits match the standard W-2 Box 12 Codes. The codes can be found at the following locations: On the Drake Software Support Website, under Support > Documents > Manuals, in the Drake Accounting ® User's Manual.
