Monkeyman Posted January 18, 2008 Report Share Posted January 18, 2008 Hello Everyone, I remeber when I worked at a gas station, had one W2, and did my taxes with a booklet from the library in 20 minutes My wife's W2 has a number in box 12a, with a Code of S (employee salary reduction contributions under a section 408(p) SIMPLE - not included in box 1). Her wages and SS wages differ by the amount in box 12a. Do I include the amount in box 1 when entering the information on the W2 worksheet, or the amount in box 1 added to 12a? Do I have to do anything special with the number in 12a? Thanks! Ker....I mean Monkeyman Quote Link to comment Share on other sites More sharing options...
Jerry W Posted January 18, 2008 Report Share Posted January 18, 2008 Hello Everyone, I remeber when I worked at a gas station, had one W2, and did my taxes with a booklet from the library in 20 minutes My wife's W2 has a number in box 12a, with a Code of S (employee salary reduction contributions under a section 408(p) SIMPLE - not included in box 1). Her wages and SS wages differ by the amount in box 12a. Do I include the amount in box 1 when entering the information on the W2 worksheet, or the amount in box 1 added to 12a? Do I have to do anything special with the number in 12a? Thanks! Ker....I mean Monkeyman The amount in box 1 is what is entered on the worksheet. The amount in box 12a is the amount sheltered from income tax. Hope this answers your ? Jerry W Quote Link to comment Share on other sites More sharing options...
HV Ken Posted January 18, 2008 Report Share Posted January 18, 2008 The W-2 worksheet has a pulldown for box 12 with code S. Just enter all the info from the W-2 right into the worksheet. Should be a one-to-one match. HV Ken Quote Link to comment Share on other sites More sharing options...
Slappy Tax Posted January 18, 2008 Report Share Posted January 18, 2008 Also, be sure to review eligibility for a credit for retirement savings contributions via Form 8880. Your post indicates that you and/or your wife may be eligible for a credit. There's not enough information to know for sure, but there's enough information to make it worth looking into. Quote Link to comment Share on other sites More sharing options...
Monkeyman Posted January 18, 2008 Author Report Share Posted January 18, 2008 You folks are great. My wife and I really appreciate the help. Quote Link to comment Share on other sites More sharing options...
Monkeyman Posted January 18, 2008 Author Report Share Posted January 18, 2008 Also, be sure to review eligibility for a credit for retirement savings contributions via Form 8880. Your post indicates that you and/or your wife may be eligible for a credit. There's not enough information to know for sure, but there's enough information to make it worth looking into. Slappy Tax, Thanks for the heads up. We can take this credit. My wife was a part-time student in 2007, but the form instructions indicate only full-timers are not eligible. Correct me if I am wrong. Also, thanks again for the info. I really appreciate it. Monkeyman Quote Link to comment Share on other sites More sharing options...
Eli Posted January 18, 2008 Report Share Posted January 18, 2008 My wife was a part-time student in 2007, but the form instructions indicate only full-timers are not eligible. Correct me if I am wrong. Monkeyman That is correct. The instructions say that if you were a 'Full-Time' student. http://www.irs.gov/pub/irs-pdf/f8880.pdf Eli Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.