Income from the exercise of non-statutory stock options. This amount is already included as taxable income in Boxes 1, 3, and 5. However, you will still need to report separately the sale of any stock options on Schedule D and Form Code W. Employer and employee contributions to a Health Savings Account. Report this amount on Form Code Y. Salary deferrals under A non-qualified deferred compensation plan.
Code Z. Income received under A non-qualified deferred compensation plan. This amount is already included in taxable wages in Box 1. Code AA. After-tax contributions to a Roth k retirement plan. This amount is included as part of your box 1 wages. Code BB. After-tax contributions to a Roth b retirement plan. Code DD. Reports the cost of non-taxable health insurance provided through your employer.
Code EE. After-tax contributions to a Roth b retirement plan offered by government employers. You're a statutory employee. This means that you report the wages from this W-2 — and any other W-2 forms you receive that are marked "statutory employee" — on Form Schedule C.
Your wages are not subject to income tax withholding, so you should see a zero or blank amount in Box 2. They are subject to Social Security and Medicare tax withholdings, however, so Boxes 3 through 6 should be filled out. You participated in your employer's retirement plan during the tax year.
Your ability to deduct contributions to a traditional IRA may be limited based on your income if you participate in a retirement plan, so check with an accountant or other tax professional if this box is checked.
You received third-party sick pay under your employer's third-party insurance policy instead of receiving sick pay directly from your employer as part of your regular paycheck. Sick pay is not included in your Box 1 wages, although sick pay is usually subject to Social Security and Medicare taxes.
See Section 6 of Publication A for a discussion of sick pay and third-party sick pay,. Information for Search Tulane. Search form Search. Tulane Home Tulane Home Home. New Direction. Better HR. W-2 Box Descriptions. Box C : This identifies the name, address, city, state and zip code of your employer. The address may show your company's headquarters rather than its local address. Box D : This is a control number that identifies your unique Form W-2 document in your employer's records.
This number is assigned by the company's payroll processing software. Box E : This identifies your full name. If your name has changed, ask your company to update their records.
Box F : This identifies your address, city, state and zip code. The address might be a former address if you've recently moved, but this shouldn't be a complication as long as your tax return bears your current, correct address. Box 1: Box 1 reports your total taxable wages or salary for federal income tax purposes.
The number includes your wages, salary, tips you reported, bonuses and other taxable compensation. For example, taxable fringe benefits such as group term life insurance will be included here. But Box 1 does not include any pre-tax benefits, such as savings contributions to a k plan, b plan or health insurance. If you have several W-2 forms, add up the Box 1 amounts and enter the total. Box 2: Box 2 reports the total amount your employer withheld from your paychecks for federal income taxes.
This represents the amount of federal taxes you have paid in throughout the year. If you have several W-2 forms, add up the Box 2 amounts just as you did with your income. Box 3: Box 3 reports the total amount of your wages subject to the Social Security tax.
At minimum, you should report your allocated tip amount unless you can prove a smaller amount with adequate records. By filing Form , your Social Security tips will be credited to your Social Security record used to figure your benefits. Box 10 — This amount reports dependent care benefits provided under a dependent care assistance program. Complete Form , Child and Dependent Care Expenses, to compute any taxable and nontaxable amounts.
This is one of the more complex W-2 box boxes, with codes ranging from A to HH. Listing each code may lead to more searches. Gain more insight into W-2 box 12 codes.
If the code is unclear, contact your employer and ask what the code represents. Completing taxes can be tricky. And while information like that found in W-2 boxes seem simple to complete at first, Form W-2 codes could be hard to complete and interpret on your own. That's about to change. This week, I'll be dissecting some of the most basic tax forms for you.
The more you know, the less scary some of these forms can be. A form W-2 is issued by an employer to an employee. That carries with it some significance and not only for tax reasons. An employer has certain reporting, withholding and insurance requirements for employees that are a bit different from those owed to an independent contractor.
The threshold for issuing a form W-2 is based on dollars - nothing else matters. Not time worked. Not position held.
Just dollars or dollar equivalents earned. If any taxes are withheld, including those for Social Security or Medicare, a form W-2 must be issued regardless of how much was paid out to an employee. The due date for employers to get that information to SSA is February Copy 1 is issued to any applicable state, city or local tax department.
Copy D is retained by the employer. As an employee, you get three copies of your form W Those three copies must be issued by January 31 of each year. Copy B is for use in reporting your federal income taxes and is generally filed with your federal income tax return unless you are e-filing in which case you have to provide it to the preparer but it is not usually forwarded to IRS. Copy 2 is for use in reporting your state, city or local income tax and is filed with the relevant taxing authorities.
Copy C is for your records you should retain Copy C for at least three years after you file or the due date of your return, whichever is later.
The left side of the form is for reporting taxpayer information; the right side of the form is used to report financials and codes. The bottom of the form reports local and state tax information. Box a. You should always double-check this to make sure it's correct.
If it's not correct, you need to request a new form W-2 from your employer. An error could slow the processing of your return. Box b. Your employer's EIN is reported in box b.
Box c. Your employer's address is reported in box c. This is the legal address of your employer which may or may not be where you actually work. Don't let that throw you. Box d. The control number is an internal number used by your employer or your employer's payroll department. If your employer doesn't use control numbers, box d will be blank. Boxes e and f.
These appear as one big block on your form W Your full name is reported at box e. It's supposed to reflect the name that's actually on your Social Security card the SSA isn't crazy about suffixes, even if you use them, so you shouldn't see one on your form W-2 unless it's on your Social Security card. If your name isn't exactly as it appears on your Social Security card, you may need a new form W-2; ask your employer if you're not sure.
Your address is reported at box f and should reflect your mailing address - which could be a post office box - likely without punctuation a USPS preference. If your address on the form W-2 isn't correct, notify your employer: you won't need a new form W-2 but your employer needs to update his or her records.
The boxes you care most about are those boxes a , e and f , as highlighted by the pink circles:. Box 1 shows your total taxable wages, tips, prizes and other compensation, as well as any taxable fringe benefits.
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