Re: what is the 12b (c) number on my W2 form?

In article <1186656898.130102.203300@xxxxxxxxxxxxxxxxxxxxxxxxxxxx>,
<ericw100@xxxxxxxxx> wrote:
I am confused about the very small amount recorded in box 12b with a
code C on W-2 forms. Should this number be reported on a Federal 1040
and state tax return forms? If so, where?

Also, in box 13, item: Ret. plan was checked with an X. What does this
Is that a retirement plan? I have left the company last recently, and
didn't join any retirement plan in my memory.

All that should be explained in the fine print on the back of
Copy B of the W-2 form.

The box 12 code c is the amount of taxable premium paid by your
company for the cost of group life insurance over 50,000.

Premiums they pay for the first 50,000 are not taxable.
The IRS has a formula for them to use to calculate the amount
of taxable premium for someone your age for amounts over

That box 12 amount is already included in box 1 so you don't
have to do anything special with the box 12 item. Info only.

The pension checkbox says that for at last one day during
the year you qualified for a pension plan or an employer
defined contribution plan, even if you did not knowingly
make contributions.

It means if you wish to contribute to an IRA, your ability
to deduct that IRA contribution depends on your adjusted
gross income.

ArtKamlet at a o l dot c o m Columbus OH K2PZH

Relevant Pages

  • Re: VW
    ... hurricane deductible and the cost of only one year's insurance. ... and they are my backup plan. ... the premium is due on the 1st of the month with a 30-day ... there was nothing except more confusion over the amount ...
  • Re: Remember - Andy broke the law
    ... > the deferred amount and the 415limit. ... are very strict limits on HCE plan participants, called "top heavy rules", ... Andy has a legitimate gripe if the employer contribution varied among the ... Andy can contribute. ...
  • Re: Income gap between rich and poor
    ... I contributed to my 401k plan. ... amount almost identical to the amount that was taken from my pay for ... contribute that much to the 401k plan because I built the house I ... twice as much money as my wife and I get from Social Security. ...
  • Re: RDMA memory registration (was: [openib-general] Re: [PATCH][RFC][0/4] InfiniBand userspace verbs
    ... I think the overestimate will be fine in practice. ... the total locked amount will most likely be ... > b) Add a VM_ALWAYSCOPY flag and extend mprotect() ... I'm assuming that for libibverbs memory registration you plan on hiding ...
  • Re: Disney Does It Again
    ... The plan involves so much micromanaging, ... You don't have to sweat the cost of every single meal ... people cards that give them a certain amount of credit towards ... costs of the lower-cost foods that people are spending credits ...