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W-2 form Line 12a

 
 
BenRed
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      02-15-2004, 06:39 AM
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...?

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Phil Marti
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      02-16-2004, 07:30 PM
(E-Mail Removed) (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

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Bill
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      02-16-2004, 07:49 PM
"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

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Ric Smith
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      02-16-2004, 07:49 PM
(E-Mail Removed) (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

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Harlan Lunsford
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      02-16-2004, 09:08 PM
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

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Phoebe Roberts, EA
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      02-16-2004, 09:09 PM
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

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Arthur L. Rubin
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      02-16-2004, 09:28 PM
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.

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Arthur Kamlet
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      02-17-2004, 01:37 AM
BenRed <(E-Mail Removed)> 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

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