The W-2 box 12 codes are: C — Taxable costs of group-term life insurance over $50,000 (included in W-2 boxes 1,3 (up to Social Security wages base), and box 5). Information only. D — Elective deferral under a Section 401(k) cash or arrangement plan.
What should I put for Box 12 on W-2?
Form W-2 Box 12 Codes
- A. Any uncollected Social Security tax or Railroad Retirement Tax Act (RRTA) tax on tips.
- B. Any uncollected Medicare tax on tips.
- C. If you had group term life insurance through your workplace, the premiums for any value over $50,000 become taxable income to you and are included here.
- D.
- E.
- F.
- G.
- H.
How do you find box 12 on a W-2?
Any amount on a Box 12 line will also have an upper-case (capital) letter code associated with it. (If there aren’t any capital letter codes in Box 12, skip it and move on to Box 13.) In each Box 12 line, simply select the capital letter code from the drop-down list and enter the corresponding amount.
What are the codes on the W-2 tax form?
Below is the explanation of the Box 12 Codes on the W-2 tax form. A – Any uncollected Social Security tax or RRTA tax on tips. You’ll include this amount in your total tax liability on your Form 1040. B – Any uncollected Medicare tax on tips.
What are the codes for Box 12 on the tax form?
Some of the most common ones are Code D for contributions to a 401 (k) plan and Code DD for the cost of employer-sponsored health care. If your Box 12 has any strange codes or you don’t know why your employer reported certain amounts, check with your payroll department.
What does the box Z mean on a W-2?
Z: Income under a nonqualified deferred compensation plan that fails to satisfy section 409A. This amount is also included in box 1. It is subject to an additional 20% tax plus interest. See “Other Taxes” in the Form 1040 instructions.
