W-2 form Line 12a

Discussion in 'Tax' started by BenRed, Feb 15, 2004.

  1. BenRed

    BenRed Guest

    Can anyone explain the use of Line 12a on an employee's W-2?
    Mine has a $635 amount entered for Code D. The IRS
    explanation mentions tips--I am not a "tipped" employee. I
    couldn't understand the IRS' explanation other than this...?

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    BenRed, Feb 15, 2004
    #1
    1. Advertisements

  2. BenRed

    Phil Marti Guest

    (BenRed) writes:

    > Can anyone explain the use of Line 12a on an employee's W-2?
    > Mine has a $635 amount entered for Code D.


    See the instructions on the back of your W-2. The code D is
    a 401(k) salary reduction.

    Phil Marti
    Topeka, KS

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Phil Marti, Feb 16, 2004
    #2
    1. Advertisements

  3. BenRed

    Bill Guest

    "BenRed" posted:

    > Can anyone explain the use of Line 12a on an
    > employee's W-2? Mine has a $635 amount
    > entered for Code D. The IRS explanation
    > mentions tips--I am not a "tipped" employee. I
    > couldn't understand the IRS' explanation other
    > than this...?


    Code D means you had an amount of money ($635) deferred from
    your taxable salary for deposit to a 401k accout -- or a
    SIMPLE retirement account that is part of a 401k
    arrangement.

    Bill

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Bill, Feb 16, 2004
    #3
  4. BenRed

    Ric Smith Guest

    (BenRed) wrote:

    > Can anyone explain the use of Line 12a on an employee's W-2?
    > Mine has a $635 amount entered for Code D. The IRS
    > explanation mentions tips--I am not a "tipped" employee. I
    > couldn't understand the IRS' explanation other than this...?


    It means you need to fill out a form 8880 to see if you
    qualify for a Retirement Savings Contributions Credit.

    Ricardo Smith, EA
    Dunlap TN

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Ric Smith, Feb 16, 2004
    #4
  5. BenRed wrote:

    > Can anyone explain the use of Line 12a on an employee's W-2?
    > Mine has a $635 amount entered for Code D. The IRS
    > explanation mentions tips--I am not a "tipped" employee. I
    > couldn't understand the IRS' explanation other than this...?


    Code D refers to a 401k plan, i.e. what you voluntarily
    contributed to your own retirement way down the road.
    Notice the difference between block 1 and 3? Is it
    perchance 635$?

    Cheer$,
    Harlan Lunsford, EA n LA

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Harlan Lunsford, Feb 16, 2004
    #5
  6. BenRed wrote:

    > Can anyone explain the use of Line 12a on an employee's W-2?
    > Mine has a $635 amount entered for Code D.


    That's your 401(k) contribution.

    Phoebe :)

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Phoebe Roberts, EA, Feb 16, 2004
    #6
  7. BenRed wrote:

    > Can anyone explain the use of Line 12a on an employee's W-2?
    > Mine has a $635 amount entered for Code D. The IRS
    > explanation mentions tips--I am not a "tipped" employee. I
    > couldn't understand the IRS' explanation other than this...?


    Code D is 401(k) contributions.

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Arthur L. Rubin, Feb 16, 2004
    #7
  8. BenRed <> wrote:

    > Can anyone explain the use of Line 12a on an employee's W-2?
    > Mine has a $635 amount entered for Code D. The IRS
    > explanation mentions tips--I am not a "tipped" employee. I
    > couldn't understand the IRS' explanation other than this...?


    That should be the amount contributed before tax to your
    401k plan.

    You might be eligible for a retirement tax credit by using
    Form 8880 if your AGI is less than 25,000 (Single; 37,500
    Head of Household, or 50,000 Married/joint).

    __
    Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

    << ------------------------------------------------->>
    << The Charter and the Guidelines for submitting >>
    << messages to this newsgroup are at www.asktax.org >>
    << ------------------------------------------------->>
     
    Arthur Kamlet, Feb 17, 2004
    #8
    1. Advertisements

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. BILLW

    Box 12A

    BILLW, Feb 15, 2004, in forum: Tax
    Replies:
    3
    Views:
    562
    Harlan Lunsford
    Feb 16, 2004
  2. BenRed

    W-2 form Line 12a

    BenRed, Feb 15, 2004, in forum: Tax
    Replies:
    8
    Views:
    33,642
    tpatc77
    Feb 19, 2011
  3. Guest
    Replies:
    6
    Views:
    1,614
    Bryan Kellar
    Mar 7, 2005
  4. Replies:
    1
    Views:
    449
    Arthur Kamlet
    Apr 11, 2005
  5. tpatc77

    W-2 Form line 12a & Line 14

    tpatc77, Feb 19, 2011, in forum: Individuals
    Replies:
    0
    Views:
    1,015
    tpatc77
    Feb 19, 2011
Loading...

Share This Page