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What code do I use for payments to my AFLAC insurance plan and for a vision insurance plan. These amounts show up in box 12, but our bookkeeper never puts a code in the box and doesn't really know which one I should use. These are pre-tax $, designed to reduce my take home amount, and thus lower my taxable income. I can't find anything that matches these on the IRS site.
This is the only thing I have left to figure out so I can file my taxes. Help!

2007-04-06 08:55:55 · 4 answers · asked by Jane T 1 in Business & Finance Taxes United States

4 answers

If these are pretax deductions, they reduced the amount reported in box 1 as wages, tips and other compensation. There is no need to report them on the 1040.

If they are post-tax deductions, they are memo amounts and still are not reported on your tax return.

2007-04-06 09:39:11 · answer #1 · answered by Bear B 4 · 1 1

www.irs.gov do a search for W2 box 12 codes it's in there. I just got done looking at it. It was page 16 in one of the publications the search pulled up I think the second or third search topic. I'm at work right now or I could give you the exact page. Hope this helps.

2007-04-06 10:04:33 · answer #2 · answered by momzadork 3 · 0 0

They are not included in your taxable income if they were deducted pre tax
the code that should be used is J
J—Nontaxable sick pay (information only, not included in
boxes 1, 3, or 5)

2007-04-06 12:15:51 · answer #3 · answered by Anonymous · 1 0

expensive Jerle: The "D" is deferred, probable a 401K or retirement plan. The utility ought to grasp the "D" and account for it. The HSA code W is corporation contributions to the plan. See IRS Bulletin 2004-3 and IRS Pub 969. This additionally would desire to be reported on style 8889. that's fairly useful to seek for some professional suggestion in case you haven't any longer finished a sort of types. this suggestion became arranged based on our understand-how of the tax regulation in result on the time it became written because it applies to the info which you provided. click on my profile to verify extra. Errol Quinn Enrolled Agent grasp Tax consultant

2016-12-15 18:04:19 · answer #4 · answered by hannigan 4 · 0 0

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