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Yes, if you are contributing pre-tax. For example; you make 30,000 during the year, and you contribute 6% to your 401k on a pre-tax basis, so you contribute a total of 1,800. You would be taxed on 28,200, and that would be reflected on your W-2.
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Is it better to wait for your w2 or can you use your last paycheck?
Wait for your W2 because you may have pre-tax deductions (such as 401K contributions) that will reduce your gross earnings that may not be reflected or accurately reflected on your last pay stub.
I made contributions to my 401k through my work. The contributions are listed in box 12. I am filling out my tax paypers and under the 'Deductions and Credits' section, it asks for contributions to Traditional and Roth IRA's. Can I re-enter box 12 amounts?
No you enter nothing or zero unless you actually contributed to a traditional or Roth IRA, the box 12 on the W2 handles the 401k, if you enter it here you will be duplicating it on your tax return.
What does the w in w2 stand for?
Wages (income)
Can stockholders be w2 employees?
Yes, if you work for a company and get compenstated in stock as part of your position or through your 401k.
What does it mean to work W2?
W-2 is above the table-reported wages.
What is the difference between a W2 and a W4 form?
The W$ form is your request for the withholding of taxes from pay. The W2 is a statement of wages paid and taxes withheld.
What is TRS in box 14 on w2 form?
TRS stands for Teacher Retirement Systems and I believe it has to do with a 401k or similar type retirement plan.
Do uncashed paychecks get included in w2 wages?
Yes...as long as recepient had control of the money/check...doesn't matter what he did with it.
Are employee medical insurance contributions taxable?
S/be Non Taxable. I thought one of the things on the table for Obama Care would be to tax Employee Medical Contributions. I am looking at a W2 for the last two years and it is taxable in both years. Is this legit?
I lost my original w2. Can you file a return with a reprint W2?
It does not matter if you file with your original W2 or not. As long as you have a copy of the W2, that is all that is needed. If you file online, you do not even need to send your W2 in.
If your employer doesn't offer any 401k benefits can you setup one with a bank or investment firm?
As an employee, you cannot directly setup a 401K, it must be set up by your employee. If you are self employed (generally defined as you get a 1099 vice a w2 but the 1099 can't be from a bank or stock account and you report the income on schedule e, se or f of your income tax return), such as a real estate salesperson or a sole proprieter, you can set up a solo 401k. Additional info is available at http://www.penscotrust.com
how do I replace w2 from social security?
where do I replace ss w2
