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W2 box 12 instructions

w2 box 12 instructions

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C - Taxable cost of group term life insurance over 50,000-included in boxes 1, 3 (up to social security wage base and 5 also.
Salespeople, agents, home-based workers and drivers can file as self-employed in order to deduct business expenses such as travel, entertainment, vehicle, etc directly instead of itemizing them on Schedule.Box 18 Local wages, tips, etc.This is sometimes assigned by the payroll software that your company uses and is for their reference you wont need to use.This is why youre filing a federal tax return, after all.See the complete listing and explanations of Form W-2 box 12 codes.This box contains the total amount you have earned in wages or other compensation, minus allowable deductions like pre-tax retirement plans.
These plans do not include contributions by the employer although the employer does maintain the responsibility of deferring paycheck contributions to a fund established by the employee.
BB - Designated Roth contributions under a section 403(b) salary reduction agreement retirement plan DD - Cost of employer-sponsored health coverage (nontaxable).Box C, your employers name and address.If this is not the district in which you live, you may need to file more than one set of local taxes.Your total wages are not less taxes that have been withheld as these are accounted for in a subsequent box.hover over each box to get more information.As with any tax form, looking at all of those lettered and numbered boxes might be a little overwhelming.Back to form, this is the total amount paid to you by your employer as an advance payment on the Earned Income Tax Credit (eitc).Your total wages, tips and other compensation.This may include benefits provided in-kind by the employer or an amount paid directly to a daycare facility or reimbursements to the employee for said care. Second, your employer has the right to list any amount they believe you received in tips but didnt report.