WebForm W-2, Boxes 4 - 7 Box 4 Social Security tax withheld - This is 6.2% of Social Security wages. Box 5 Medicare wages - This box reports the amount of wages that are subject to Medicare tax. Unlike the Social Security wages, there is no limit on the amount of wages that are subject to Medicare tax. WebJan 31, 2024 · W: Company contributions (including employee contributions through a cafeteria plan) to an employee's health savings account (HSA) Y: Deferrals under a section 409A nonqualified deferred compensation plan Z: Income under a nonqualified deferred compensation plan that fails to satisfy section 409A.
What do the letter codes in box 12 of my W-2 mean? - Intuit
WebMar 29, 2024 · Depending on the agreement, this form was also used to report golden parachute payments. As of 2024, box 7 is used to indicate the payer made direct sales of $5,000 or more of consumer products to a buyer. These products are generally direct sales of a product intended to be resold. WebFeb 10, 2024 · Your Form W-2 must reflect wages paid during the calendar year. For example, if you worked from Dec. 18, 2024, through Jan. 3, 2024, and were paid on Dec. 25, 2024, and Jan. 10, 2024, respectively ... pred-x 20mg
Understanding W-2 Boxes and Codes H&R Block
WebJun 4, 2024 · Your Form W2 box 1 wages amount already includes any amount reported in box 7 for social security tips. Box 7 amounts don't get entered in addition to your box 1 … WebDo not use Code 7 for a Roth IRA. Note: Code 1 must be used even if a taxpayer is 59 1/2 or older and he or she modifies a series of substantially equal periodic payments under section 72 (q), (t), or (v) prior to the end of the 5-year period which began with the first payment. A, B, D, K, L, or M. 8. WebBox 7—Social security tips. Box 8—Allocated tips (not applicable to Forms W-2AS, W-2CM, W-2GU, or W-2VI). Box 10—Dependent care benefits (not applicable to Forms W-2AS, … pred-x 5mg