Box 12 Letter V

The upper case capital letters in box 12 stand for different things and are listed below.

Box 12 letter v. Include this tax on form 1040 schedule 4 line 58. List of box 12 codes. Box 12 should be entered into turbotax exactly as it is on your w 2. Having a list of words with a specific letter or combination of letters could be what you need to decide your next move and gain the advantage over your opponent.

B uncollected medicare tax on tips. Uncollected social security or rrta tax on tips. The w2 box 12 codes are. When i m adding the corresponding stock sale 1099 b should i report that tax was already paid.

This amount represents the social security and medicare tax on the tips you reported to your employer. Each w2 form box 12 code is either a single or double letter code. They just give your employer space to provide more information you need to prepare your tax return. Include this tax on form 1040.

Box 12 will report a single letter or double letter code followed by a dollar amount. I m confused because my 1099b shows only 3 565 76 and no indication of the tax paid. Include this tax on form 1040 schedule 4 line 58. Here are some tips for deciphering the box 12 codes on your w 2 form.

When you play with the box a bit it thinks you have a value you need to enter. The following list explains the codes shown in box 12 of form w 2. On your w 2 you have boxes 12a 12b 12c and 12d all of whom are generically referred to as box 12. C taxable costs of group term life insurance over.

If there is nothing in box 12 on your w 2 leave it blank in turbotax. 12 letter words can help you score big playing words with friends and scrabble. I sold some stock options last year for net proceeds of 3 565 76 but tax was taken out at the time and i was given 2 223 21. Each amount entered in box 12 has an uppercase code that stands for something.

Lines a b c and d of box 12 on form w 2 contain miscellaneous additional compensation and benefits each identified with a letter code. Uncollected social security and medicare tax on tips. On my w 2 in box 12 i have a certain amount with code v in it. These are the letter codes you ll need to enter into turbotax.

It should read select letter code for the letter code box and the amount box next to it should be blank. I am confused on what i need to do about this regarding tax reporting. The 3 565 76 amount is shown on my w2 in box 12 with a code of v. For each pair of one or two letter codes and dollar amount in boxes 12a 12d enter this pair in the row when you are your w 2 information in turbotax for example d and 1 000.

You may need this information to complete your tax return. Per my understanding code v is income from exercise of nonstatutory stock options which is already included in my w 2 as income. Based on my research i got two conflicting answers. A uncollected social security or rrta tax on tips.