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The W-2 box 12 codes are: A – Uncollected Social Security tax or Railroad Retirement Tax Act (RRTA) tax on tips. Include this tax on Form 1040 Schedule 2, line 13; B – Uncollected Medicare tax on tips. Include this tax on Form 1040 Schedule 2, line 13; C – Taxable costs of group-term life insurance over $50,000 (included in W-2 boxes 1,3 ...
26 cze 2024 · 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.
29 mar 2024 · A thorough understanding of these codes is essential for ensuring that one's tax return reflects accurate income and deduction figures. Below is a list of the top 25 Box 12 codes found on the Form W-2, showcasing various boxes and codes that impact your financial statements.
5 cze 2024 · Learn how to use Form W-2 Box 12 codes to report certain compensation and benefit amounts for your employees. See the chart of 26 codes and their meanings, such as D for 401 (k) retirement plan contributions.
19 wrz 2024 · Employers that are subject to this requirement should 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.
23 sty 2024 · Wondering what the codes in box 12 of your W-2 mean? TaxAct has a handy table that lists the meaning of all W-2 box 12 letter codes.
27 kwi 2023 · Box 12 W-2 Instructions. The Form W-2 has 29 codes for reporting compensation and benefit amounts. These codes cover everything from elective deferrals to a section 401(k) to income from qualified equity grants. In Box 12, enter the code in uppercase (capital letter) and its corresponding amount.
