To locate your 401(k) contributions on your W-2 form, look for Box 12 labeled “Code D.” This box reports any pre-tax contributions you made to your employer-sponsored 401(k) plan during the previous tax year. The amount in Box 12 represents the total amount deducted from your paycheck before federal income taxes were calculated. It’s important to note that 401(k) contributions are not included in your taxable income, so they reduce the amount of your earnings subject to income tax. Therefore, the amount in Box 12 will not be included in the total amount reported in Box 1 of your W-2.
Where to Find 401(k) on W-2
Your 401(k) contribution information can be found on your Form W-2, Wage and Tax Statement.
The 401(k) deduction is typically listed in Box 12 of the W-2, which is labeled 401(k), etc.
| Box 12 | Description |
|---|---|
| a | 401(k) Contributions |
Locate 401k Contributions on Your W-2
Knowing where to find your 401(k) contributions on your W-2 is vital for accurate tax filing. Here’s a comprehensive guide to help you locate this information:
Employer Identification Number (EIN)
The EIN is a unique nine-digit number assigned to every employer. It is essential for identifying your employer and ensuring proper tax reporting.
Box 12, Code D
Your 401(k) contributions are typically reported in Box 12 of your W-2, under Code D. This code specifically represents “401(k) and Other Elective Deferrals”.
The amount displayed in this box represents the total 401(k) contributions made on your behalf by your employer during the tax year.
Table: Locating 401(k) Contributions on Your W-2
| Box Number | Code | Description |
|---|---|---|
| 12 | D | 401(k) and Other Elective Deferrals |
W-2 Fields for Retirement Plans
Your W-2 form provides valuable information about your earnings and withholdings, including those related to retirement plans. Here’s a breakdown of the relevant fields:
- Box 12a: Code D – 401(k) Contributions
- Box 12b: Code E – Roth 401(k) Contributions
- Box 12c: Code F – 403(b) Contributions
- Box 12d: Code G – Roth 403(b) Contributions
These fields represent the pre-tax contributions you made to the respective retirement accounts during the year.
| Field | Code | Description |
|---|---|---|
| Box 12a | D | 401(k) Contributions |
| Box 12b | E | Roth 401(k) Contributions |
| Box 12c | F | 403(b) Contributions |
| Box 12d | G | Roth 403(b) Contributions |
Where to Find 401k Contributions on W2
Line 12 of the W-2 form reports the employee’s total contributions to all employer-maintained 401k plans, including traditional 401k, safe harbor 401k, and SIMPLE 401k plans.
The code in box 12 may be either “C” or “E”. “C” indicates that the employee made both pre-tax and post-tax contributions. “E” indicates that the employee only made pre-tax contributions.
Example: If line12 of the W-2 form shows $1,200, and the code in box 12 is “C”, the employee made $1,200 in 401k contributions, of which some or all may have been post-tax contributions.
It’s important to note that not all employers offer 401k plans. Additionally, even if an employer offers a 401k plan, not all employees may be eligible to participate.
If you have any questions about your 401k contributions, you should contact your employer’s human resources department.
| Code | Description |
| C | Both pre-tax and post-tax contributions |
| E | Only pre-tax contributions |
Well, folks, that’s all there is to it! Finding your 401k contributions on your W2 is as easy as pie. Now that you know where to look, you can calculate those deductions with confidence. Thanks for joining me on this financial journey, and don’t forget to drop by again soon for more tax tips and tricks. I’ll be here, waiting to help you navigate the world of personal finance with ease.