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Deductions & credits
Thanks for the document. I read through all the three options.
If I choose option 3, then it gives highest reportable W2 wages.
Does it mean I will have to correct my W2 as well and report the box 12 wages reprorted under code D, added back to taxable witholding wages?
In other words, I can get QBID on my 401k contribution but I have to loose tax deferal on those. Its one or other. Is it true understanding?
Also any amount eported inder Box 12 , W and DD are not counted as wages for QBID purpose. Is that correct understanding as well?
‎February 12, 2024
11:31 AM