W2 Box 12 Codes Flashcards
Learn Box 12 codes and meanings
A
Uncollected Social Security tax or railroad retirement tax on tips (note: if get Railroad stuff, send to higher-level tax pro)
B
Uncollected Medicare tax on tips
C
The cost of group-term life insurance coverage in excess of $50k. This amount is taxable and included in boxes 1, 3, 5.
D
401k contributions
E
403b contributions
F
408k SEP contributions
G
457 contributions
H
501 contributions
J
The amount of sick pay not includible in income because the employee contributed to a sick pay plan
K
20% excise tax on golden parachute payments
L
Substantiated employee business expense reimbursements. (nontaxable)
M
Uncollected social security tax or RRTA tax on excess coverage cost on taxable cost of group-term life insurance over $50k (for former employees)
N
Same as M, but amt is uncollected Medicare tax.
P
Excludible amounts paid directly to an employee for a work related move
Q
Nontaxable combat pay
R
Employer contributions to the employee’s Archer MSA (medical savings account)
S
Employee salary reduction contributions under a 408(p) (SIMPLE) plan (not included in box 1).
T
Employer-provided adoption benefits (generally non-taxable)
V
Income from exercise of certain stock options. Amount included in box 1,3,5
W
Employer contributions to Employee Health Savings Account (HSA)
Y
Deferrals from a 409A nonqualified deferred compensation plan
Z
Income under a 409A nonqualified deferred compensation plan
AA
Designated Roth contributions to a 401k plan
BB
Designated Roth contributions to a 403b salary reduction agreement
DD
Cost of employer-sponsored health coverage
EE
Designated Roth contributions under a 457 plan
