Box 12 Letter V

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.

Box 12 letter v. A uncollected social security or rrta tax on tips. Include this tax on form 1040 schedule 4 line 58. 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. Per my understanding code v is income from exercise of nonstatutory stock options which is already included in my w 2 as income.

The w2 box 12 codes are. It should read select letter code for the letter code box and the amount box next to it should be blank. Include this tax on form 1040. Box 12 should be entered into turbotax exactly as it is on your w 2.

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. I am confused on what i need to do about this regarding tax reporting. Uncollected social security and medicare tax on tips. Your w 2 has four sections in box 12 labeled 12a 12b 12c and 12d.

When you play with the box a bit it thinks you have a value you need to enter. If there is nothing in box 12 on your w 2 leave it blank in turbotax. Include this tax on form 1040 schedule 4 line 58. I m confused because my 1099b shows only 3 565 76 and no indication of the tax paid.

B uncollected medicare tax on tips. Box 12 will report a single letter or double letter code followed by a dollar amount. 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. The 3 565 76 amount is shown on my w2 in box 12 with a code of v.

This amount represents the social security and medicare tax on the tips you reported to your employer. C taxable costs of group term life insurance over. They just give your employer space to provide more information you need to prepare your tax return. On my w 2 in box 12 i have a certain amount with code v in it.

The lines labeled 12a 12b 12c and 12d sometimes listed as 12a d on yo. On your w 2 you have boxes 12a 12b 12c and 12d all of whom are generically referred to as box 12. The upper case capital letters in box 12 stand for different things and are listed below. List of box 12 codes.

Each amount entered in box 12 has an uppercase code that stands for something. These lowercase letters don t mean anything. Here are some tips for deciphering the box 12 codes on your w 2 form. You may need this information to complete your tax return.

Each w2 form box 12 code is either a single or double letter code. Uncollected social security or rrta tax on tips. When i m adding the corresponding stock sale 1099 b should i report that tax was already paid. These are the letter codes you ll need to enter into turbotax.