Does my employer Matching of 401k plan shows in Box 12 D on my W2?

[marquez7780]

So My employer Match my Contribution to my 401k plan. I paid $5,000.00 and my employer Paid $2,500.00. So On box 12 in W2 with letter D. Should it Show only My contribution $ 5,000.00 or it gonna be the total $ 7,500.00. 

[dmertz]

No, the employer matching contribution should not appear in box 12 of your W-2.  In your example, it should show with code D only the $5,000 of elective deferral you made from your pay.  The amount reported with code D is also excluded by your employer from the amount your employer reports in box 1 of your W-2.

[marquez7780]

Thank you! so it's different than HSA? because my employer only contribute to my HSA and it shows on box 12 W. I did not  contribute  any dollar to my HSA account and still appear in box 12 W. I know HSA will not be included in BOX 1 and 5.

[dmertz]

HSA reporting is different.  HSA contributions made by your employer under a cafeteria plan apply toward your overall HSA contribution limit, so they need to be reported to you and the IRS and must appear on Form 8889 of your tax return (which TurboTax does for you upon entry of the code W amount on TurboTax's W-2 form).  On the other hand, permissible employer matching contributions to your 401(k) are not reportable anywhere on your tax return, so they are not be included in box 12 of your W-2.  Only your elective deferrals form your pay appear in box 12 with code D so that the IRS knows why your box 1 amount differs from your box 5 amount and so that you can claim a Retirement Savings Contributions Credit on Form 8880 of your tax return if you qualify.

[sshusain]

Sorry I wasted my time. If it takes so long as to be able to file a tax return, I hate my time wasted.

[macuser_22]

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@sshusain wrote:

Sorry I wasted my time. If it takes so long as to be able to file a tax return, I hate my time wasted.

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Your post makes no sense and has nothing to do with the topic of this thread - do you have a real question?   If so then please start a new thread of your own and ask a complete question.

[tasgaladolin]

I made contributions to a Roth 403b, and my employer made matching pre-tax contributions. My employer has added the amount of their pre-tax contributions to my salary in box 1 of my W2 (so that the amount in box 1 is higher than my gross salary). Should they have done that? It seems like I will now be taxed twice on that amount: once when I pay income tax this year, and once when I receive that money after I retire.

[RobertB4444]

No, they should not be.

Your employer deducts the amount that they pay you as salary on their tax return.  They also get to deduct any employee benefits that they pay, which in this case is those matching contributions.  If they are deducting them twice then they are making an error.  You will also be paying taxes on the contributions both when they give them to you as well as when they are paid out of the account, as you said.

You need to contact your employer and request a corrected W2.

[Mw47]

Question! I just got my w2 and I never set up my 401k plan at my job, but it’s showing a couple thousand dollars in box D? Do you have any idea about that?

[AmyC]

Some places automatically enroll you in the plan, a common number is 6%. Congress is discussing requiring all businesses with some small number of employees and up be required to do that with a 6% start. It is up to the employee to opt out or change the percentage rather than the old fashioned opt in method.

Check to see if you were automatically enrolled.

@Mw47

[Mw47]

That’s very interesting. I’ve intended to set up my 491k but have no idea where to start or what I am supposed to do. I do feel like I have heard something about 6% before… thank you!

[ZoltanB45]

Box 12D in a W2 form records the elective deferral of a 401K plan. Only the employee portion is listed here. There is no record of the employer contribution on the form.  The amount in box 1 will differ from boxes 3 and 5, because although your 401k contributions reduces your wages subject to federal tax withholding, it doesn't reduce the amount subject to Social Security and Medicare tax.

As far as  not signing up with the company's 401k plan, but still seeing an amount in box 12D, the company may have automatically put you in their plan and it is up to the employee to proactively opt out.