Individuals (employees) do not have to report the cost of coverage under an employer-sponsored group health plan that may be shown on their Form W-2, Wage and Tax Statement, in Box 12, using Code DD. This reporting is for informational purposes only, to show employees the value of their health care benefits.

Is Box 12 Code W required?

Employers must report all employer and employee Health Savings Account (HSA) contributions made through payroll as a single aggregated amount on the employee’s form W-2 in Box 12 using code W.

What if there is nothing in box 12 on W-2?

If there is nothing in box 12 on your W-2, leave it blank in TurboTax. When you play with the box a bit, it thinks you have a value you need to enter. It should read “-Select Letter Code-” for the letter code box and the amount box next to it should be blank.

Do I have to report Box 14 on my tax return?

In most cases, the information that your employer lists in Box 14 of your W-2 does not affect your income tax return. In fact, for many Box 14 entries, the IRS does not even provide a place for it to get reported on your return forms.

Does HSA need to be reported on W-2?

To report your HSA contributions on your tax return, you will need a copy of your W-2 for the total pretax contributions made by you through payroll or by your employer. This can be found in box 12, code W of your W-2.

What is included in Box 12 Code DD?

Box 12 amounts with the code DD signify the total cost of what you and your employer paid for your employer-sponsored health coverage plan.

How do I know what to put in box 12?

On your W-2, you have boxes 12a, 12b, 12c, and 12d, all of whom are generically referred to as “box 12”. For each pair of one or two letter codes and dollar amount in boxes 12a-12d, enter this pair in the row when you are your W-2 information in TurboTax (for example, “D” and “$1,000”).

What are the codes in Box 12 of Form W-2?

Box 12 will report a single letter or double letter code followed by a dollar amount. The following list explains the codes shown in Box 12 of Form W-2. You may need this information to complete the tax return. Uncollected social security or RRTA tax on tips. Include this tax on Form 1040. See ” Other Taxes ” in the Form 1040 Instructions.

What is the W-2 box for statutory employee?

Box 13 — If the “Retirement plan” box is checked, special limits can apply to the amount of traditional IRA contributions you can deduct. If the “Statutory Employee” box is checked, Box 1 will be carried to Schedule C line 1. Box 14 — Employers can use this W-2 box to report information such as: Railroad employers use this W-2 box to report:

How do I fill in Box 2 on my W-2?

Enter the wages from box 1 of the W-2 into box 1 on the W-2 window. Enter the federal tax withheld from box 2 of the W-2 into box 2 on the W-2 window. If the wages in box 1 are the same as in box 3 and box 5, press ENTER to move past those boxes and the wages and taxes withheld will fill in automatically.

Is there a way to edit a Form W-2?

If the W-2 has an X marked in a check box on line 13, click the appropriate check box in the W-2 window. To edit a previously entered Form W-2, select Wages, Salaries, Tips from the Income Menu. Highlight the Form W-2 that you want to edit and then select the Edit button, or double-click on the Form W-2 entry.