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Type W-2 Field 12 Codes


A Uncollected Social Safety or RRTA tax on suggestions. If you happen to didn’t withhold Social Safety tax or Railroad Retirement Tax Act tax (retirement taxes for the railroad business) on an worker’s suggestions, you’ll enter A and the quantity in Field 12. B Uncollected Medicare tax or RRTA tax on suggestions. If you happen to didn’t withhold Medicare tax or Railroad Retirement Tax Act on an worker’s suggestions, you’ll enter B and the quantity in Field 12. C Taxable value of group-term life insurance coverage over $50,000. If you happen to present group-term life insurance coverage protection over $50,000, you’ll enter C in Field 12, in addition to Containers 1, 3, and 5. For the quantity you might want to enter, seek the advice of the IRS. D Elective deferrals underneath a piece 401(okay) money or deferred association plan (together with a SIMPLE 401(okay) association). In case your worker contributes to a 401(okay) retirement plan, enter D and the quantity in Field 12. Additionally, test the retirement plan field in Field 13. E Elective deferrals underneath a piece 403(b) wage discount settlement. In case your worker contributes to a 403(b) retirement plan, enter E and the quantity in Field 12. Examine the retirement plan field in Field 13 as nicely. F Elective deferrals underneath a piece 408(okay)(6) wage discount settlement. In case your worker contributes to a 408(okay)(6) retirement plan, together with a Simplified Worker Pension plan (SEP), enter F and the quantity in Field 12. G Elective deferrals and employer contributions (together with nonelective deferrals) to a piece 457(b) deferred compensation plan. This can be a retirement plan for presidency companies together with hospitals and charities, but when your worker contributes to a 457(b), enter G and the quantity in Field 12. H Elective deferrals to a piece 501(c)(18)(D) tax-exempt group plan. This retirement plan is a tax-exempt group plan. In case your worker contributes to a 501(c)(18)(D) plan, enter H and the quantity in Field 12 in addition to Field 1. I At the moment not used. J Nontaxable sick pay. Present any sick pay that was paid by a third-party and was not includible in earnings (and never proven in Containers 1, 3, and 5) as a result of the worker contributed to the sick pay plan. Okay 20% excise tax on extra golden parachute funds. Extra golden parachute funds apply to staff of massive firms who’re present process mergers. L Substantiated worker enterprise expense reimbursements. If an worker’s enterprise bills are nontaxable, you would come with this in Field 12. To find out in case your worker’s enterprise bills are nontaxable, seek the advice of the IRS. Taxable parts go in Containers 1, 3, and 5. M Uncollected Social Safety or RRTA tax on taxable value of group-term life insurance coverage over $50,000 (former staff solely). If you happen to didn’t gather Social Safety tax or RRTA tax from former staff for group-term life insurance coverage over $50,000, enter M and the quantity in Field 12. N Uncollected Medicare tax on taxable value of group-term life insurance coverage over $50,000 (however not Extra Medicare Tax; for former staff solely). If you happen to didn’t gather Medicare tax or RRTA tax from former staff for group-term life insurance coverage over $50,000, enter N and the quantity in Field 12. P Excludable shifting expense reimbursements paid on to members of the Armed Forces. That is just for members of the Armed Forces. Q Nontaxable fight pay. That is just for navy personnel. R Employer contributions to an Archer Medical financial savings account. In case your staff have Archer Medical financial savings accounts, you’ll enter the quantity you contributed in Field 12. Additionally, you will have to report quantities not excluded in your worker’s gross pay in Containers 1, 3, and 5. S Worker wage discount contributions underneath a piece 408(p) SIMPLE plan. If an worker contributes to a SIMPLE retirement plan (and never a 401(okay)), embody the quantity they’ve taken out of their paychecks in Field 12. Additionally, enter the quantity in Containers 3 and 5, in addition to test the retirement plan field in Field 13. T Adoption advantages. If you happen to provide advantages to your staff who undertake, you’ll need to incorporate the overall quantity in Field 12. Additionally, in case your worker contributes to a 125 adoption plan, embody what they contributed earlier than taxes. Enter the overall quantity in Containers 3 and 5 as nicely. U At the moment not used. V Earnings from train of nonstatutory inventory choice(s). You’ll report the distinction between the truthful market worth and the worth an worker paid for a nonstatutory inventory in Field 12, in addition to in Containers 1, 3, and 5. W Employer contributions to a Well being Financial savings Account (HSA) (together with worker contributions by means of a cafeteria plan). If you happen to contribute to an worker’s Well being Financial savings Account plan, you’ll enter the quantity of your contributions in Field 12. Additionally, you might want to embody your contributions in Field 1. Y Deferrals underneath a Part 409A nonqualified deferred compensation plan. No matter whether or not the deferrals are a part of earnings or not, enter the quantity put right into a nonqualified deferred compensation plan. Z Earnings underneath a nonqualified deferred compensation plan that fails to fulfill Part 409A. You’ll enter the quantity of whole earnings that doesn’t meet the necessities of Part 409A. The quantity for Code Z will probably be taxed 20% plus curiosity in your worker’s Type 1040. AA Designated Roth contributions underneath a piece 401(okay) plan. In case your worker contributes to a Roth 401(okay) plan, report the quantity in Field 12, and test the retirement plan field in Field 13. BB Designated Roth contributions underneath a piece 403(b) plan. Enter the quantity an worker contributed to a Roth 403(b) plan in Field 12, and test the retirement plan field in Field 13. CC At the moment not used. DD Value of employer-sponsored well being protection. You’ll report the quantity of employer-provided well being protection in Field 12 with Code DD. EE Designated Roth contributions underneath a governmental part 457(b) plan. You’ll embody Roth contributions underneath a 457(b) plan in Field 12 in addition to Containers 1, 3, and 5.



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