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.

[lindsey-early]

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?

[Anita01 · Accepted solution]

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.