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Codes TT and TP were new codes that the IRS has proposed for box 12 on W-2 forms for:
TP: Qualified Tips
TT: Qualified overtime
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Using them has maybe been delayed to the next tax season for 2026 taxes, but some W-2 issuers have started using them.
Not sure if TTX software people will be modifying current software to use those codes or not....TTX Experts and moderators need to a detailed discussion with the software managers and staff about that.....so that they/we can help a number of people who also have one, or both of those codes already on their W-2 forms.....as to what they are supposed to do.
On my W-2 in box 12A I have a code that says TT for qualified overtime. Yet turbo tax does not have the software updated so I can't do my taxes because I can't select the code. I know others have encountered this issue as well.
Put it in box 14 and answer the follow up questions after you enter your w-2. How do I enter overtime pay in TurboTax Online?
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