W2 boxes

• What is the code for elective deferrals and employer contributions to any governmental or nongovernmental section 457(b) deferred compensation plan?

  G
• What is the code for nontaxable sick pay?


  J
• How should designated Roth contributions to 401(k) plans be reported on Form W-2?

  Using code AA in box 12
• How should reimbursements to employees for business expenses be reported?

  Payments made under an accountable plan are excluded from the employee's gross income and are not reported on Form W-2
• How should taxable reimbursements of over-the-counter drugs bought without a prescription or premiums paid on a pre-tax basis for coverage under a group health plan be treated for income, social security, and Medicare taxes?

  Include the amount of the taxable reimbursements in boxes 1, 3, and 5 and treat as wages
• How should you correct an incorrect tax year and/or EIN incorrectly reported on Form W-2 or Form W-3?

  Prepare two sets of Forms W-2c and W-3c
• If an employee received sick pay in 2024, who is responsible for reporting the information on the employee's Form W-2?

  The employer
• Under section 402A, where should designated Roth contributions be reported?

  Boxes 1, 3, and 5
• What are employee contributions to an Archer MSA subject to?

  Federal income tax withholding and social security and Medicare taxes
• What code should be used in box 12 to report the permitted benefit under the QSEHRA for the calendar year?


  Code FF
• What code should be used to report 20% excise tax on excess golden parachute payments?

  Code K
• What code should be used to report elective deferrals under a section 401(k) cash or deferred arrangement (plan)?

  Code D
• What code should be used to report elective deferrals under section 501(c)(18)(D) tax-exempt organization plan?


  Code H
• What do codes M and N in Box 12 of a W-2 represent?

  Codes M and N represent uncollected Social Security and Medicare tax on life insurance premiums exceeding $50,000 for former employees.
• What does Box 12 Code F on the W-2 represent?

  Elective deferrals under a section 408(k)(6) salary reduction SEP
• What does Box 12 Code G on the W-2 represent?

  Elective deferrals and employer contributions (including non-elective deferrals) to a section 457(b) deferred compensation plan
• What does Box 12 Code J on the W-2 represent?

  Nontaxable sick pay (information only, not included in boxes 1, 3, or 5)
• What does Box 12 on a W-2 represent?


  Box 12 represents various types of income.
• What does Box 3 on Form W-2 show?

  Social security wages
• What does Box 12 A on Form W-2 represent?

  Uncollected social security or RRTA tax on tips
• What does Box B on Form W-2 represent?

  Uncollected Medicare tax on tips (but not Additional Medicare Tax)
• What does Box 12C on Form W-2 represent?

  Taxable cost of group-term life insurance over $50,000
• What does Box F on Form W-2 represent?


  Elective deferrals under a section 408(k)(6) salary reduction SEP
• What does Box H on Form W-2 represent?

  Elective deferrals to a section 501(c)(18)(D) tax-exempt organization plan
• What does code AA on Form W-2 represent?


  Designated Roth contributions under a section 401(k) plan
• What does code B on Form W-2 represent?

  Uncollected Medicare tax on tips (but not Additional Medicare Tax)
• What does code C on Form W-2 represent?

  Taxable cost of group-term life insurance over $50,000
• What does code D in box 12 of the Form W-2 represent?

  Elective deferrals under a section 401(k) cash or deferred arrangement (plan)
• What does code FF in Box 12 represent?

  Code FF represents permitted benefits under a qualified small employer health reimbursement arrangement.
• What does code GG in Box 12 represent?

  Code GG represents income from qualified equity grants under Section 83(i).
• What does code HH in Box 12 represent?


  Code HH represents aggregate deferrals under Section 83(i) elections as of the close of the calendar year.
• What does code J in Box 12 represent?

  Code J represents non-taxable sick pay by a third party that was not includible in income.
• What does code L in Box 12 of a W-2 represent?


  Code L represents non-taxable employee business expense reimbursement.
• What does code P in Box 12 represent?

  Code P represents excludable moving expense reimbursements paid directly to members of the U.S. Armed Forces.
• What does code R in Box 12 represent?

  Code R represents employer contributions to an Archer MSA.
• What does code Z in Box 12 represent?

  Code Z represents income under a nonqualified deferred compensation plan that fails to satisfy Section 409A.
• What information can be reported in Boxes 15 through 20 of Form W-2?


  State and local income tax information
• What is Box 4 on Form W-2 used for?

  To show the total employee social security tax withheld
• What is Box 7 on Form W-2 used for?

  To show the tips that the employee reported
• What is the code for elective deferrals under a section 401(k) cash or deferred arrangement (plan)?

  Code D