WebCode J—Nontaxable sick pay. Code K—20% excise tax on excess golden parachute payments (not applicable to Forms W-2AS, W-2CM, W-2GU, or W-2VI). Code L—Substantiated employee business expense reimbursements. Code M—Uncollected social security or … WebJun 4, 2024 · W2 that reported non taxable income, Box 12 showed Code J. It says that we don't have to report the W2, but when listed it told us we had to E-file. If the premium was …
Solved: W2 that reported non taxable income, Box 12 …
WebLine 12J - Section 59 (e) (2) Expenditures - Amounts reported in Box 12, Code J represent a taxpayer's share of qualified expenditures that the taxpayer may make a section 59 (e) election for. The corporation should provide the taxpayer with a statement that identifies the property (or properties) for which the expenditures were incurred or paid. WebUse Code J for a distribution from a Roth IRA when Code Q or Code T does not apply. But use Code 2 for an IRS levy and Code 5 for a prohibited transaction. 8 or P: K—Distribution … how to take screenshot on windows
W-2, Box 12 - Codes - Wolters Kluwer
Web30 rows · Jun 14, 2024 · Box 12 is highlighted in the Form W-2 below, courtesy of the IRS. There is a vertical line dividing each section of Box 12. The code goes on the left of the vertical line, and the dollar amount goes … WebSep 29, 2024 · J: Nontaxable sick pay (information only, not included in boxes 1, 3, or 5) K: 20% excise tax on excess golden parachute payments. See “Other Taxes” in the Form 1040 instructions. Workers with this code on their W-2 you cannot file a Form 1040EZ. L: Substantiated employee business expense reimbursements (nontaxable). WebSupport 1040 - US: Third party sick pay (W-2, Box 12, Code J) According to Publication 15-A, Employer's Supplemental Tax Guide, third party sick pay wages should not be included in Box 1 of the W2; they should only be reported in Box 12. If the W-2 was completed incorrectly, a corrected Form W-2 will need to be issued to the taxpayer. Notes: reagan donaldson