What are the codes in Box 12 of W2?
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Last modified 11/16/2020 1:03:18 PM EST |
Added by 123PayStubs Team
There are 29 codes that can be reported in Box 12 of Form W-2. And, these codes are to indicate the compensation and benefits offered to an employee.
Here is the list of codes.
A - Uncollected social security or RRTA tax on tips.
B - Uncollected Medicare tax on tips.
C - Taxable cost of group-term insurance over $50,000 (included in box 1, 3 and, 5)
D - Elective deferrals to a section 401(k) cash (includes deferrals under a SIMPLE retirement account that is part of the 401(k) arrangement)
E - Elective deferrals to your 403(b) plan.
F - Elective deferrals under a section 408(k)(6) plan.
G - Elective deferrals and employer contributions to a section 457(b) deferred compensation plan.
H - Elective deferrals to a section 501(c)(18)(D) tax-exempt organization plan.
J - Nontaxable sick pay
K - 20% excise tax on excess golden parachute payments
L - Substantiated employee business expense reimbursements (Nontaxable)
M - Uncollected social security or RRTA tax on taxable cost of group-term life insurance over $50,000 (applicable only to former employees).
N - Uncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (applicable only to former employees).
P - Excludable moving expense reimbursements paid directly to a member of the U.S. Armed Forces (this is not included in box 1, 3, or 5)
Q - Nontaxable combat pay.
R - Employer contributions for Archer MSA.
S - Employee contributions under a section 408(p) SIMPLE plan.
While filing Form W-2 using 123PayStubs, you can select these codes from the drop-down. You may also see the instructions right in the application while you file the return.