WebForm W-2 Reference Guide for Box 12 Codes . Form W-2 Box 13 Retirement Plan Checkbox Decision Chart. Nonqualified Deferred Compensation Reporting Example … WebJul 7, 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. What does DD mean on W-2 Box 12a? Hello – Code DD in Box 12 is the cost that your employer paid for your Health Insurance. It is …
What do the codes mean in Box 12 of my W-2? – Support
WebMar 4, 2024 · 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 ... WebDec 13, 2024 · W-2 Box 14 Vs. 12. The primary difference between boxes 14 and 12 on your W-2 is that box 12 uses codes to identify specific entries, including certain types of income, insurance costs, types of non-taxable pay and retirement plan contributions. Box 14, however, is somewhat of a catch-all field for your employer to report anything that … pace university dance major
What do the letter codes in box 12 of my W-2 mean?
WebJan 30, 2024 · Enter the total amount paid in 2024 by both the employer and the employee. Click Continue. This will populate the amount on box 12 with code DD in the W-2 form. Feel free to reach out to us if you have any additional questions about QuickBooks. Thanks. Cheer Reply Saucy Lisa Level 1 January 11, 2024 09:23 AM Hello, WebYou may file Forms W-2 and W-3 electronically on the SSA’s Employer ... The reporting in box 12, using code DD, of the cost of employer-sponsored health coverage is ... Enter this amount on the wages line of your tax return. Box 2. Enter this amount on the federal income tax withheld line of your WebJun 16, 2024 · During Form 5500 examinations, IRS agents found employers using incorrect codes in Box 12 of Form W-2, for example: code D for 401 (k) elective deferrals incorrectly included 403 (b), 457, or non-qualified amounts. code E for 403 (b) contributions but did not have a 403 (b) plan. pace university dba