Form W-2 - Wage And Tax Statement - 2014 Page 7
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11Instructions for Employee
Box 12. The following list explains the codes shown in box 12. You may
(Also see Notice to Employee,
need this information to complete your tax return. Elective deferrals (codes
on the back of Copy B.)
D, E, F, and S) and designated Roth contributions (codes AA, BB, and EE)
under all plans are generally limited to a total of $17,500 ($12,000 if you only
Box 1. Enter this amount on the wages line of your tax return.
have SIMPLE plans; $20,500 for section 403(b) plans if you qualify for the
Box 2. Enter this amount on the federal income tax withheld line of your tax
15-year rule explained in Pub. 571). Deferrals under code G are limited to
return.
$17,500. Deferrals under code H are limited to $7,000.
Box 5. You may be required to report this amount on Form 8959, Additional
However, if you were at least age 50 in 2014, your employer may have
Medicare Tax. See Form 1040 instructions to determine if you are required to
allowed an additional deferral of up to $5,500 ($2,500 for section 401(k)(11)
complete Form 8959.
and 408(p) SIMPLE plans). This additional deferral amount is not subject to
Box 6. This amount includes the 1.45% Medicare Tax withheld on all
the overall limit on elective deferrals. For code G, the limit on elective
Medicare wages and tips shown in Box 5, as well as the 0.9% Additional
deferrals may be higher for the last 3 years before you reach retirement age.
Medicare Tax on any of those Medicare wages and tips above $200,000.
Contact your plan administrator for more information. Amounts in excess of
the overall elective deferral limit must be included in income. See the
Box 8. This amount is not included in boxes 1, 3, 5, or 7. For information on
“Wages, Salaries, Tips, etc.” line instructions for Form 1040.
.
how to report tips on your tax return, see your Form 1040 instructions
Note. If a year follows code D through H, S, Y, AA, BB, or EE, you made a
You must file Form 4137, Social Security and Medicare Tax on Unreported
make-up pension contribution for a prior year(s) when you were in military
Tip Income, with your income tax return to report at least the allocated tip
service. To figure whether you made excess deferrals, consider these
amount unless you can prove that you received a smaller amount. If you have
amounts for the year shown, not the current year. If no year is shown, the
records that show the actual amount of tips you received, report that amount
contributions are for the current year.
even if it is more or less than the allocated tips. On Form 4137 you will
calculate the social security and Medicare tax owed on the allocated tips
A—Uncollected social security or RRTA tax on tips. Include this tax on Form
shown on your Form(s) W-2 that you must report as income and on other tips
1040. See “Other Taxes” in the Form 1040 instructions.
you did not report to your employer. By filing Form 4137, your social security
tips will be credited to your social security record (used to figure your
B—Uncollected Medicare tax on tips. Include this tax on Form 1040. See
benefits).
“Other Taxes” in the Form 1040 instructions.
Box 10. This amount includes the total dependent care benefits that your
C—Taxable cost of group-term life insurance over $50,000 (included in boxes
employer paid to you or incurred on your behalf (including amounts from a
1, 3 (up to social security wage base), and 5)
section 125 (cafeteria) plan). Any amount over $5,000 is also included in box
1. Complete Form 2441, Child and Dependent Care Expenses, to compute
D—Elective deferrals to a section 401(k) cash or deferred arrangement. Also
any taxable and nontaxable amounts.
includes deferrals under a SIMPLE retirement account that is part of a
Box 11. This amount is (a) reported in box 1 if it is a distribution made to you
section 401(k) arrangement.
from a nonqualified deferred compensation or nongovernmental section
E—Elective deferrals under a section 403(b) salary reduction agreement
457(b) plan or (b) 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 social security
(continued on back of Copy 2)
and Medicare taxes this year because there is no longer a substantial risk of
forfeiture of your right to the deferred amount. This box should not be used if
you had a deferral and a distribution in the same calendar year. If you made a
deferral and received a distribution in the same calendar year, and you are or
will be age 62 by the end of the calendar year, your employer should file
Form SSA-131, Employer Report of Special Wage Payments, with the Social
Security Administration and give you a copy.
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