What is 12d code on W-2?

What is 12d code on W-2?

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. D — Elective deferral under a Section 401(k) cash or arrangement plan. This includes a SIMPLE 401(k) arrangement.

What is the amount in box 12b on W-2?

Box 12 Code Description
B Uncollected Medicare tax on tips
C Taxable cost of group-term life insurance over $50,000
D Elective deferrals to a section 401(k) cash or deferred arrangement. Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement

What is Box 14 code A?

Line 14A – Net Earnings (Loss) from Self-Employment – Amounts reported in Box 14, Code A represent the amount of net earnings from self-employment. For Limited Partners this amount generally includes any guaranteed payments received for services rendered to or on behalf of the partnership.

What does 12D stand for?

12D means Tower Municipal Airport, Tower, Minnesota USA This acronym/slang usually belongs to Locations, Regional & international category. Particularly in Airport codes Abbreviations

What does 12DD mean on your W2?

Many employers are required to report the cost of an employee’s health care benefits in Box 12 of Form W-2, using Code DD to identify the amount. This amount is reported for informational purposes only and is NOT taxable. It is included in Box 12 in order to provide comparable consumer information on the cost of health care coverage.

What does the code “DD” on the W-2 form box 12A 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 does DD mean on W2 in Box 12?

The amount shown on your W-2, Box 12, using Code DD, represents the of the cost of pre-tax employer-sponsored health coverage, and is for your information only. The amount reported with Code DD is not taxable, but neither can it be claimed as a tax deduction (medical expense) by an individual taxpayer.