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New Member
posted Feb 10, 2024 12:17:42 PM

What's Elective Deferrals to 501(c)(18)(D) plan?

I snapped a picture of my W-2 using the QR code feature and saw a box automatically filled in on my page called Elective Deferrals to 501(c)(18)(D) plan. I don't see that box on my W-2 but the amount automatically filled in is the same as boxes 3 and 5 of my W-2.

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1 Replies
Expert Alumni
Feb 13, 2024 2:41:40 PM

Elective deferrals to a 501(c) plan would be contributions you made to a company retirement plan. Typically, the money would be deducted from your gross pay and contributed to a retirement plan at work. The amounts contributed would not normally be included in your taxable income as reported in box 1 of your W-2 form. 

 

Boxes 3 and 5 of your W-2 form are for reporting your social security and Medicare wages. Those number would be different from your 501(c) plan contributions, so it sounds like something may have went wrong with your W-2 upload. You may have to delete the W-2 entry and download it again, or enter it manually if you continue to experience problems.