What If There Is Nothing in Box 12 on W2?
C — Taxable costs of group-term life insurance over $50,000 (included in W-2 boxes 1,3 (up to Social Security wages base), and box 5). Information only. D — Elective deferral under a Section 401(k) cash or arrangement plan.
What does the code ” DD ” on the W-2 form box 12A mean?
What does the code “DD” on the W-2 form box 12a mean? bigdi30- Hello – Code DD in Box 12 is the cost that your employer paid for your Health Insurance. It is informational but it is not included in your tax filing.
What does box 12 with a code C mean?
Box 12 with a code c is the taxable cost of group-term insurance over $50,000. If you had group term life insurance through your workplace, the premiums for any value over $50,000 become taxable income to you and are included in box 12. Enter your W-2 form with the box 12 code C in your tax return.
Where to find box 12 on a W-2?
Enter your W-2 form with the box 12 code C in your tax return. The taxable amount is already included in your Box 1 wages. You don’t enter the amount anywhere else in your return.
