What does 12a mean on W-2?

Box 12 Code	Description
B	Uncollected Medicare tax on tips
C	Taxable cost of group-term life insurance over $50,000
D	Elective deferrals to a section 401(k) cash or deferred arrangement. Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement

What is 12a 12d on W-2?

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. 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.

What is Box 12a D?

D : Contributions to your 401(k) plan. DD: Cost of employer-sponsored health coverage. More info. E: Contributions to your 403(b) plan. EE: Designated Roth contributions under a governmental section 457(b) plan.

What if Box 12 on W-2 is blank?

If there is nothing in box 12 on your W-2, leave it blank in TurboTax. When you play with the box a bit, it thinks you have a value you need to enter. It should read “-Select Letter Code-” for the letter code box and the amount box next to it should be blank.

What is line 12A on Form 1040?

First, 12a asks you to write in either the amount of your standard deduction or your itemized deductions. Most people will take the standard deduction, which is listed on the form to the left of this line (your standard deduction is higher if you’re over age 65 or blind).

What is code DD on my W-2?

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.

What is box 12 on Form W-2?

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. Include this tax on Form 1040.

What is a W-2 tax form?

The W-2 form is one of the most common tax forms used by U.S. taxpayers. In fact, it’s a tax statement that reports your wages and the taxes withheld from your wages. If you’ve ever really looked at the form’s details, you may be overwhelmed as it has many boxes and codes on it.

What is Box 2 on a 1040 Form?

Box 2 — Shows the total federal income tax that was withheld from your paycheck for the year. Include this amount on the federal income tax withheld line of your return (Form 1040, line 16). Box 3 — Shows your wages subject to Social Security tax.

What is form 4137 on Form W-2?

On Form 4137, you’ll figure the Social Security and Medicare tax owed on the allocated tips shown on your W-2 (s). By filing Form 4137, your Social Security tips will be credited to your Social Security record (used to figure your benefits). Box 10 — This amount reports dependent care benefits provided under a dependent care assistance program.