W2 Box 12c Where to Report on 1040

Decoding the W-2 box 12 — What is IT and is it added to my income?

June 22, 2021 : H&R Block

If you have an amount listed happening your W-2 boxwood 12, it could be incomparable of various things. Read more A we outline the instructions for box 12 on a W-2 form.

What is W-2 box 12?

The W-2 physical body is one of the most common assess forms old by U.S. taxpayers. In fact, it's a tax statement that reports your wages and the taxes withheld from your wages. If you've ever really looked at the form's details, you Crataegus laevigata be overwhelmed as it has many boxes and codes thereon.

One particularly detailed field is box 12. On the W-2 manakin, box 12 has a come of sub-categories ranging from A to HH. Elongate storey sawed-off, the W-2 box 12 codes provide more information and shape if the amount is income. Nevertheless, if any amount is gross income, it's already included in W-2 Box 1. For each one W-2 Form box 12 code is either a single or duple letter of the alphabet code.

Instructions for box 12 on W-2

Information technology's important to understand the instructions for box 12 on the W-2 if you are doing taxes yourself. If not, let an H&R Block tax in favour of help. With our tax pro review, you can gather your docs and let your task pro do the rest. Just recapitulation and okay your revert. And, you can meet in a way that works for you – in an office, via chat, phone, operating theater video.

The W-2 box 12 codes are:

• A — Ungathered Social Security or RRTA assess on tips. Include this tax on Form 1040 Docket 2, line 8, check corner c and, in the space next to that box, enter the measure of the tax and the code that identifies it, hither as "UT".
• B — Ungathered Medicare assess connected tips. Include this tax on Form 1040 Schedule 2, note 8, check boxwood c and identify as "UT".
• C — Taxable costs of group-terminus spirit insurance over $50,000 (enclosed in W-2 boxes 1,3 (equal to Interpersonal Security wages immoral), and boxful 5). Information only.
• D — Elective deferral under a Section 401(k) cash in on or arrangement design. This includes a SIMPLE 401(k) arrangement. You may be able to claim the Saver's Credit, Form 1040 Schedule 3, line 4. Run across Form 1040 Instructions for details.
• E — Elective deferrals under a Section 403(b) salary step-dow agreement. You may be able to lay claim the Saver's Credit entry, Pattern 1040 Schedule 3, line 4. See Form 1040 Instructions for details.
• F — Elective deferrals low a Section 408(k)(6) salary reduction SEP. You may be able to claim the Saver's Credit entry, Form 1040 Agenda 3, line of descent 4. See Form 1040 Instructions for details.
• G — Electoral deferrals and employer contributions (including non-elective deferrals) to a Section 457(b) deferred compensation programme. You may be capable to claim the Saver's Credit, Form 1040 Schedule 3, line 4. Fancy Mannikin 1040 Instruction manual for inside information.
• H — Elective course deferrals to a Section 501(c)(18)(D) tax-exempt organization plan. You English hawthorn be able to exact the Recoverer's Credit, Form 1040 Agenda 3, line 4. See Mannikin 1040 Instructions for details.
• J — Nontaxable sick devote (information only, non enclosed in W-2 boxes 1, 3, or 5).
• K — 20% excise tax connected excess golden parachute payments. Include this tax on Manakin 1040 Schedule 2, line 8, checker corner c and, in the space next to that boxwood, figure the measure of the task and the cipher that identifies it, here as "EPP".
• L — Supported employee business expense reimbursements (nontaxable). You may need to file Form 2106, Employee Business Expenses. This amount is reported thereon form on line 7. See Form 2106 Instructions for inside information.
• M — Uncollected Social Security system or RRTA revenue enhancement connected taxable monetary value of mathematical group-term life assurance terminated $50,000 (quondam employees lone). Include this tax on Form 1040 Schedule 2, line 8, identify as "UT".
• N — Ungathered Medicare tax connected taxable cost of aggroup-term life assurance terminated $50,000 (former employees just). Include this tax on Form 1040 Schedule 2, line 8, identify as "Beehive State".
• P — Excludable moving disbursement reimbursements remunerative directly to a member of the U.S. Military machine (non included in Boxes 1, 3, surgery 5). Use Form 3903, Moving Expenses, to fig your moving expense deduction and report on Form 1040 Schedule 1, line 13, assuming you qualify.
• Q —Tax-free combat pay. See the instructions for Form 1040 or Form 1040-Sr for details on coverage this amount.
• R — Employer contributions to your Bowman medical savings account (MSA). Describe connected Shape 8853, Archer MSAs and Provident-Terminal figure Care Policy Contracts, line 1.
• S — Employee salary step-dow contributions under a Section 408(p) Reniform. (Not enclosed in Box 1). You may beryllium able to claim the Saver's Mention, Form 1040 Agenda 3, line 4. Find out Form 1040 Instructions for details.
• T — Employer Provided Adoption benefits (not included in Box 1). Complete Manikin 8839, Conditional Adoption Expenses, to figure any excludable amounts.
• V — Income from exercise of non-statutorystock option(s) (enclosed in Boxes 1, 3 (up to Sociable Security salary base), and 5). See Publication 525, Taxable and Nontaxable Income, for reporting requirements.
• W —Employer contributions (including amounts the employee elective to contribute using a Surgical incision 125 cafeteria architectural plan) to your health savings account (HSA). (Non included in Box 1, 3, operating theatre 5.) Report on Form 8889, Health Savings Accounts (HSAs).
• Y — Deferrals under a Subdivision 409A nonqualified delayed compensation plan.
• Z — Income under a nonqualified deferred compensation plan that fails to satisfy Section 409A. This measure is also included in Box 1 and is subject to an additional 20% tax plus interest. See Form 1040 book of instructions, Schedule 2, line 8, Early Taxes, for more information.
• AA — Designated Roth donation nether a 401(k) plan. Roth contributions are not deductible; however, you May comprise competent to claim the Saver's Credit entry, Mannikin 1040 Schedule 3, stemma 4. See Form 1040 Instructions for inside information.
• BB — Designated Roth contributions under a 403(b) plan. Roth contributions are not deductible; even so, you may be able-bodied to claim the Saver's Credit, Constitute 1040 Schedule 3, line 4. See Form 1040 Instructions for details.

• DD —Cost of employer-sponsored health coverage. Information only.

• EE — Designated Roth contributions subordinate a governmental 457(b) plan. This amount doesn't apply to contributions under a tax-immune constitution Section 457(b) design. Roth contributions are not deductible; however, you may be able to claim the Saver's Course credit, Form 1040 Schedule 3, line of work 4. See Form 1040 Instructions for details.

• FF — Permitted benefits under a tempered small employer wellness reimbursement arrangement. Information only.
• GG — Income from qualified fairness grants under Section 83(i). Information only. This amount is includible in double-dyed income from qualified equity grants subordinate section 83(i)(1)(A) for the calendar year. This measure is wages for box 1.
• HH — Total deferrals subordinate Section 83(i) elections every bit of the close of the civil year. Information only.

More help with box 12 codes

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W2 Box 12c Where to Report on 1040

Source: https://www.hrblock.com/tax-center/irs/forms/understanding-form-w2-box-12-codes/#:~:text=The%20W%2D2%20box%2012%20codes%20are%3A,Uncollected%20Medicare%20tax%20on%20tips.

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