CNA Payroll - W-2 Setup - Deduction/Benefits for Boxes 10, 11, 12 and 14

 

Box 10 Dependent Care

If you have a benefit(s) for dependent care which falls under IRS §129, enter the code(s) on this window. Normally, only benefit codes are entered on this window.

In the case where a Cafeteria Plan is being run as a deduction, dependent care deduction codes may be entered on this window so the system may print the calendar year amount in Box 10 on the W-2 for participating employees.

Be sure the amount of dependent care over $5,000 is also included in Box 1, 3, and 5 of the W-2.

Alternately, if only reporting a few employees, you may directly enter the amount to be reported in Box 10 on the Edit W-2 window after preparing the W-2s.

Box 11 Non-Qualified Plans

This window will allow you to enter benefit codes you used to accumulate amounts of non-qualified deferred compensation benefits.

Please note that this procedure is intended for an Eligible §457(b) and fully employer vested Non-Qualified Deferred Compensation plans only. Should you have a plan that is not either of the above, please contact a qualified tax accountant for assistance for filing a proper W-2 report. Be sure the amount of the benefit is also included in Box 1 of the W-2.

Alternately, if only reporting a few employees, you may directly enter the amount to be reported in Box 11 on the Edit W-2 window after preparing the W-2s.

Box 12 403(b), Taxable Life Insurance, or other codes

Report life insurance benefit costs for over $50,000 in coverage and deferred compensation deductions on this window.

Use the follow codes for reporting amounts in Box 12. 

 

Code

Description

Additional

C

Taxable benefit of group term-life insurance over $50,000. The Calendar Year amount for the code on the Ded/Ben tab on the Employee window for the employee must be the cost of the coverage over $50,000.

Be sure the amount is added to the Taxable Wages in Boxes 1, 3, and 5.

 

D

Non-taxable elective salary deferrals to a 401(k) or SIMPLE 401(k) retirement plan.

 

E

Non-taxable elective salary deferrals to a 403(b) retirement plan.  This amount of deferred compensation is not included in Box 1.

 

F

Non-taxable elective salary deferrals to a 408(k)(6) SEP retirement plan. This amount of deferred compensation is not included in Box 1.

 

G

Non-taxable elective salary deferrals and non-elective employer contributions to a 457(b) retirement plan. This amount of deferred compensation is not included in Box 1.

 

H

Non-taxable elective salary deferrals to a 501(c)(18)(D) tax-exempt plan. This amount of deferred compensation is not included in Box 1.

 

R

Used to report employer contributions to a Medical Savings Account (MSA) benefit code. The effect of this kind of deduction varies from plan to plan. Depending on the specific plan you have, this same amount may need to be also included in boxes 1 and/or 3, and/or 5, and/or 16 on the W-2.

Edit these amounts on the Edit W-2 window.

S

Non-taxable salary deferral to a 408(p) SIMPLE retirement plan. This amount of deferred compensation is not included in Box 1.

 

T

Employer paid adoption benefits. This amount is not included in Box 1 wages. You must use IRS Form 8839 to calculate the taxable and non-taxable portion of these adoption benefits.

Like code R above, the reporting of this benefit as wages varies from plan to plan. If needed, edit the wage amounts on the Edit W-2 window.

AA

After-tax contributions to a Roth 401(k) retirement plan.

 

BB

After-tax contributions to a Roth 403(b) retirement plan.

 

CC

Report the employee’s amount of HIRE exempt wages for 2010. Use the Edit W-2 window to enter the code and wage amount.

 

DD

Report the aggregate cost of the applicable employer-sponsored health insurance coverage (optional in 2010 and 2011, mandatory in 2012).

If only reporting a few employees, you may directly enter the codes and amounts to be reported in Box 12 on the Edit W-2 window after preparing the W-2s.

 

 

Box 14 Allowances

Box 14 on the W-2 is for your own use to report information to employees. The Social Security Administration and the IRS ignore this box. The calendar year amounts of the codes, deductions or benefits, you enter on this window will be printed in Box 14 of the W-2 statement. A three-letter code may be printed to denote the printed amount.

Also, if only reporting a few employees, you may directly enter the codes and amounts to be reported in Box 14 on the Edit W-2 window after preparing the W-2s.

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