In filing a financial aid application, under the section, “Parent Untaxed Income,” it is asking for our “401K, 403B and any other tax deferred pension contributions.” In the explanation section, it states: “Tax-deferred pension contributions may be found on W-2 (wage and tax) forms.”
On W-2 form, is it asking for the amount listed under 12b code D?
A code D in box 12 is for “elective deferrals to a section 401(k) cash or deferred arrangement. Also includes deferrals under a SIMPLE retirement account that is part of a section 401(k) arrangement.” But there are other box 12 codes that denote similar elective deferrals to other kinds of retirement plans that also need to be reported on financial aid forms as untaxed income. All the codes are listed and defined on the back of the W-2.
Payments to tax-deferred pensions are reported in Boxes 12a through 12d of your W-2 form, codes D, E, F, G, H and S. Don’t include amounts reported in code DD (employer contributions toward employee health benefits).
Thank you @BelknapPoint and @kelsmom