What does code See Inst for box 12 mean?

What does code See Inst for box 12 mean?

See inst. for box 12: The total amount of executive life insurance, 403(b) or 457(b) contributions, and excludable moving expenses. Code C: Executive life insurance.

Why does my W-2 say See instructions for Box 12?

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. amount represents the social security and Medicare tax on the tips you reported to your employer.

What does line 12a on W-2 mean?

The W-2 box 12 codes are: A — Uncollected Social Security or RRTA tax on tips. Include this tax on Form 1040 Schedule 2, line 8, check box c and identify as “UT”. 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.

What is code DD in Box 12 of W2?

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 do I put for Box 12 on my W2?

Form W-2 Box 12 Codes

1. A. Any uncollected Social Security tax or Railroad Retirement Tax Act (RRTA) tax on tips.
2. B. Any uncollected Medicare tax on tips.
3. 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.
4. D.
5. E.
6. F.
7. G.
8. H.

What is code DD in Box 12 of W-2?

Do you have to fill out Box 12 on W2?

You are not required to complete box 12 with code Y (Deferrals under a section 409A nonqualified deferred compensation plan). Section 409A provides that all amounts deferred under a nonqualified deferred compensation (NQDC) plan for all tax years are includible in gross income unless certain requirements are satisfied.

What does box 12A on W2 mean?

The code DD in the Box 12a of your W-2 means the Total cost of employer-sponsored group health plan. Reporting it doesn`t mean its taxable but required under Affordable Care Act.

What goes on line 12A of a federal tax form?

…

Partially Taxable Distributions.

Tax-Free Distributions.

Rollovers.

What does box 12 mean on taxes?

Box 12 amounts with the code DD signify the total cost of what you and your employer paid for your employer-sponsored health coverage plan. Code DD amounts are for informational purposes only — they don’t affect the numbers in your tax return.

What is code W on Box 12?

The amount with code “W” in box 12 of your W-2 is the sum of the amounts that your employer contributed to your HSA AND that you contributed through a payroll deduction scheme.