Instructions For Forms W-2 And W-3 - Wage And Tax Statement And Transmittal Of Wage And Tax Statements - 2006 Page 2
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26Instructions for Employee
for the 15-year rule explained in Pub. 571). Deferrals under
(also see Notice to
code G are limited to $15,000. Deferrals under code H are
Employee, on back of Copy B)
limited to $7,000.
Box 1. Enter this amount on the wages line of your tax return.
However, if you were at least age 50 in 2006, your employer
may have allowed an additional deferral of up to $5,000 ($2,500
Box 2. Enter this amount on the federal income tax withheld
for section 401(k)(11) and 408(p) SIMPLE plans). This additional
line of your tax return.
deferral amount is not subject to the overall limit on elective
Box 8. This amount is not included in boxes 1, 3, 5, or 7. For
deferrals. For code G, the limit on elective deferrals may be
information on how to report tips on your tax return, see your
higher for the last three years before you reach retirement age.
Form 1040 instructions.
Contact your plan administrator for more information. Amounts
in excess of the overall elective deferral limit must be included
Box 9. Enter this amount on the advance earned income credit
in income. See the “Wages, Salaries, Tips, etc.” line instructions
payments line of your Form 1040 or Form 1040A.
for Form 1040.
Box 10. This amount is the total dependent care benefits that
Note. If a year follows code D, E, F, G, H, or S, you made a
your employer paid to you or incurred on your behalf (including
make-up pension contribution for a prior year(s) when you were
amounts from a section 125 (cafeteria) plan). Any amount over
in military service. To figure whether you made excess deferrals,
$5,000 also is included in box 1. You must complete Schedule
consider these amounts for the year shown, not the current
2 (Form 1040A) or Form 2441, Child and Dependent Care
year. If no year is shown, the contributions are for the current
Expenses, to compute any taxable and nontaxable amounts.
year.
Box 11. This amount is: (a) reported in box 1 if it is a
A—Uncollected social security or RRTA tax on tips. Include this
distribution made to you from a nonqualified deferred
tax on Form 1040. See “Total Tax” in the Form 1040
compensation or nongovernmental section 457(b) plan or (b)
instructions.
included in box 3 and/or 5 if it is a prior year deferral under a
nonqualified or section 457(b) plan that became taxable for
B—Uncollected Medicare tax on tips. Include this tax on Form
social security and Medicare taxes this year because there is no
1040. See “Total Tax” in the Form 1040 instructions.
longer a substantial risk of forfeiture of your right to the
C—Taxable cost of group-term life insurance over $50,000
deferred amount.
(included in boxes 1, 3 (up to social security wage base), and 5)
Box 12. The following list explains the codes shown in
D—Elective deferrals to a section 401(k) cash or deferred
box 12. You may need this information to complete your tax
arrangement. Also includes deferrals under a SIMPLE retirement
return. Elective deferrals (codes D, E, F, and S) and designated
account that is part of a section 401(k) arrangement.
Roth contributions (codes AA and BB) under all plans are
generally limited to a total of $15,000 ($10,000 if you only have
E—Elective deferrals under a section 403(b) salary reduction
SIMPLE plans; $18,000 for section 403(b) plans if you qualify
agreement
(continued on back of Copy 2)
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