Form W-2 is an important document that reports the income an employee has earned at your company, as well as how much federal income tax, Social Security, Medicare, insurance premiums, retirement plan contributions, etc. were withheld from an employee’s wages. In short, the form is used t...
Retirement Plan Contributions: Contributions to retirement plans like 401(k)s reduce the income reported in Box 1 of your W-2. For example, if your gross wages are $50,000, but you contributed $5,000 to a 401(k), your taxable wages in Box 1 of your W-2 will be $45,000. Pay ...
2011. "Assessment of Retirement Plan Coverage and Firm Size Using W-2 Tax Records." Social Security Bul- letin 71(2): 53-65.Dushi, Irena, Howard M. Iams, and Jules Lichtenstein (2011). "Assessment of Retirement Plan Coverage by Firm Size, Using W-2 Tax Records." Social Security ...
Box 12See instructions for Box 12Fill in the items in this box as described below. Report only items that are included in the list below. Note:Make sure that the Retirement plan checkbox in box 13 is marked if you’ve entered any of the following codes in box 12: D, E, F, H, an...
Taxable qualified retirement plan distributions Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions ...
Box 13 - Checkboxes: This Box has three checkboxes: statutory employee, retirement plan, and third-party sick pay. Employers should check all boxes that apply. A statutory employee is an employee whose earnings are subject to social security and Medicare taxes, but they aren't subject to withh...
California Voluntary Plan for Disability Insurance (VPDI) Maine Public Employees Retirement System contribution Maryland state retirement pickup amount To populate Box 14 for quarterly and year-end reporting: Feed the appropriate W2 Box 14 balance. ...
Retirement planmeans you participated in your employer’s retirement plan during the year. Third-party sick paymeans you received sick pay under your employer’s third-party insurance policy. Box 14:Reports anything that doesn’t have a specific box anywhere else on Form W-2. ...
Box 13 should not include values. Instead, mark the boxes that apply. There are three boxes within Box 13: Statutory employee Retirement plan Third-party sick pay For example, if you entered Box 12 code D to show the employee’s retirement contributions, also check the ‘Retirement plan’ ...
Box 13 is a checkbox section which is not checked for most people, but may indicate that you are a statutory employee, that you participated in the employer's retirement plan, and you received third-party sick pay. Box 14 codes and amounts are used for "additional information" which can ...