This is informational only — it doesn’t affect your taxable income.
Which is reported in Box 12 of the W-2 form with code Q?
Nontaxable combat pay
| Box 12 Code | Description |
|---|---|
| Q | Nontaxable combat pay |
| R | Employer contributions to your Archer MSA. |
| S | Employee salary reduction contributions under a section 408(p) SIMPLE plan (not included in box 1) |
| T | Adoption benefits (not included in box 1) |
What is Box 12 on W2 used for?
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.
How are wages and tips calculated on W2?
Box 1 “Wages, tips, other compensation”: This is federal, taxable income for payments in the calendar year. The amount is calculated as YTD earnings minus pre- tax retirement and pre-tax benefit deductions plus taxable benefits (i.e., certain educational benefits).
What does Code V mean in Box 14 of W2?
Non-Taxable Health Benefits
Code “V” in Box 14 refers to contributions you made to “Non-Taxable Health Benefits”.
What do the codes on form W2 box 12 mean?
The W2 Box 12 codes are: A — Uncollected Social Security or RRTA tax on tips. Include this tax on Form 1040 Schedule 4 line 58. B — Uncollected Medicare tax on tips. Include this tax on Form 1040 Schedule 4 line 58.
What is the box 12 code for tips?
W-2, Box 12 – Codes W-2, Box 12 Codes Revised 09/2017 The code must be entered as a capital letter or you will receive a validation error upon e-file creation. Box 12 Code Description A Uncollected social security or RRTA tax on tips
When do you need to file Form W-2 for your employees?
Each year, you need to file Form W-2 for your employees. You might need to use Form W-2 Box 12 codes to accurately fill out Form W-2. If you are not familiar with Box 12, there are currently 26 codes to report certain compensation and benefit amounts.
What do you need to know about box 12?
The following list explains the codes shown in box 12. You may need this information to complete your tax return.
