TurboTax does not have these codes in their dropdown menu for entering Box 12 of Form W-2.
It was not intended for the Form W-2 for 2025 to have codes TT and TP. The IRS has included those codes in their instructions for Form W-2 for 2026. However, some employers are using codes TT and TP on their 2025 W-2's which has caused some confusion.
If your W-2, Box 12 has a Code TT for qualified overtime. The code "TT" is for overtime. You will be able to use the amount in Box 12 for TT to enter your overtime in the TurboTax program.
Do not enter it with your Form W-2. Instead, look for screen that says "Let's Check for Uncommon Situations." Check the box for "Overtime." TurboTax will then prompt you to enter your overtime information needed to calculate the deduction for overtime.
The code "TP" is for tips. On your Form W-2 your total tips should be included in your total wages in box 1 of your W-2, and the amount of tips should be shown in box 7 of your W-2.
If your tips are in box 7 ignore the code TP in box 12.
TurboTax will ask some follow-up questions regarding your tips after entering your Form W-2 to determine whether you are eligible for the deduction for tips.
If your tips are not reported on your Form W-2 you should ask your employer for a corrected Form W-2 that shows your tips in Box 7.
Click here for Instructions for Form W-2.
Click here for How Do I Fill Out the Box 12 Information From My W-2?
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