TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Solved

I owe way more than I expected on this years taxes. I made about the same as last year- the only different I see if the amount in 12D.

Forum|Forum|7 years ago
June 6, 2019
1 reply
13 views

I made about the same amount as last year, wages wise. However, looking at my W-2 for this year, I see a $5,500 amount in 12D. Is that what is causing me to pay more in federal taxes? How do I fix this for next year, do I need to withhold more?

TurboTax Free Edition Online

Best answer by

If you mean the code is a D, that would be for elective deferrals to a pension plan, which would reduce your taxable income. Box 12 has both lines and codes. Make sure you chose the correct code for whatever shows on line D. For example, if you accidentally chose the code of A for the first line in Box 12, that would definitely increase your tax owed.

A

Anonymous

Answer

If you mean the code is a D, that would be for elective deferrals to a pension plan, which would reduce your taxable income. Box 12 has both lines and codes. Make sure you chose the correct code for whatever shows on line D. For example, if you accidentally chose the code of A for the first line in Box 12, that would definitely increase your tax owed.