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On my W2 in box 13, the box marked Retirement plan is checked but here is no amount in box 14. Why would that be and will it cause a problem?

Also, when Turbo Tax imported the information form my employer, there is a W in box 12 fields but there is no W on my actual W2.  Do I just remove that from the form on Turbo Tax?
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2 Replies
ChristinaS
Expert Alumni

On my W2 in box 13, the box marked Retirement plan is checked but here is no amount in box 14. Why would that be and will it cause a problem?

Importing isn't perfect, so its important that we compare the codes with what they mean. (Its always possible that Turbo is importing a corrected W2)

  1. No, its not important that the Retirement Plan box is checked and there are no contributions. Contributions would be in Box 12 (401k, 403b) or Box 14 (pension-type contributions). Having the box checked only means you were eligible.
  2. Code W means HSA contributions. If you are unsure as to whether you have a Health Savings Account, check with your employer. If the IRS has a copy of a W2 with a Code W, they will expect certain forms to be completed on your return (Form 8889 for HSAs)

Personally, I doubt Turbo Tax is just adding codes to your W2. If anything doesn't match your hard copy, ensure that you know which is correct. If the "W" is a total error, yes, just remove the dropdown.

Did it import a dollar amount with the Code W?

ChristinaS
Expert Alumni

On my W2 in box 13, the box marked Retirement plan is checked but here is no amount in box 14. Why would that be and will it cause a problem?

(Please read corrected response in Answer Exchange... I edited some typos, etc)
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