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drbrosco
Fri, 25 Sep 2009 11:54:03 GM
Hi, my friend bought the Turtle Beach Earforce x41 headset to play his Xbox 360 with. They are the $200 ones. His problem is that when we are playing.
How does pension reflect in a W-2 form and how is it different from 401(k) etc?
Q. Where does pension appears in the W-2 form. Which Box within W-2 form will it appear? Does the pension has to be deducted for social security and medicare tax? Is pension a part of 401(k) and other retirement plans?
Asked by sng2350 - Thu Nov 29 14:25:34 2007 - - 3 Answers - 0 Comments
A. Pension does not show up as a dollar amount on the w2. There is a check box (forget what box) that indicates if you are eligible for a pension. This check box basically is used by the IRS to determine if you are eligible to contribute to an IRA. 401K on your w2 reflects your contribution to your 401k plan (does not include any company contribution). Because your 401k is deductible from your federal tax (and some states). So, your Federal taxable wages are determined by taking your total wages and subtracting your 401k contribution (up to the established limits). Section 125 deductions also reduce your federal gross (contributions to health, dental and dependent and health savings accounts). 401k contributions do not impact your… [cont.]
Answered by mark - Thu Nov 29 14:29:45 2007
Q. Where does pension appears in the W-2 form. Which Box within W-2 form will it appear? Does the pension has to be deducted for social security and medicare tax? Is pension a part of 401(k) and other retirement plans?
Asked by sng2350 - Thu Nov 29 14:25:34 2007 - - 3 Answers - 0 Comments
A. Pension does not show up as a dollar amount on the w2. There is a check box (forget what box) that indicates if you are eligible for a pension. This check box basically is used by the IRS to determine if you are eligible to contribute to an IRA. 401K on your w2 reflects your contribution to your 401k plan (does not include any company contribution). Because your 401k is deductible from your federal tax (and some states). So, your Federal taxable wages are determined by taking your total wages and subtracting your 401k contribution (up to the established limits). Section 125 deductions also reduce your federal gross (contributions to health, dental and dependent and health savings accounts). 401k contributions do not impact your… [cont.]
Answered by mark - Thu Nov 29 14:29:45 2007
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