Question regarding "Payments to tax-deferred pension and retirement savings plans"

Paying for College
1

I need help with my FAFSA… I don’t know what to put for this question or where it is located…PLEASE HELP!!!
—>> “Payments to tax-deferred pension and retirement savings plans
Payments to tax-deferred pension and retirement savings plans (paid directly or withheld from earnings), including, but not limited to, amounts reported on the W-2 Form in Boxes 12a through 12d, codes D, E, F, G, H, and S. Don’t include amounts reported in code DD (employer contributions toward employee health benefits) question” #94a

Thanks.

2

If anyone who has to report income on your FAFSA received a 2015 form W-2 from an employer, look on the W-2 for any entry in boxes 12a through 12d with the specified code, and report that amount in FAFSA question 45.a (if it was on the student’s W-2) and/or FAFSA question 94.a (if it was on a parent’s W-2).

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@BelknapPoint does this include the 401k?

4

@BelknapPoint or is that already in the income tax???

5

401(k) contributions are normally made by the employee on a pre-tax basis, and they should be shown on the W-2 form as a box 12 entry with code D. 401(k) pre-tax contributions need to be reported on FAFSA in question 45.a (for student contributions) and question 94.a (for parent contributions).

6

You need to input the numbers directly from the W-2 boxes indicated. If you do that, you won’t need to worry about what should or should not go there. The instructions are very clear.

7

The pretax 401k contributions are not listed on the tax return, because they are untaxed income, but the FAFSA considers them in the formula.

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So what I’m understanding is that i do put the 401k for this question… Now, i don’t know where codes D, E, F, G, H, and S are – I see boxes 12 a through d (they’re on the little strip of paper stapled onto the forms). Does anyone know where i could find these codes???

9

On the form W2 what if anything is written in the box 12? Is there a code D?

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Well there is 12a, 12b, 12c, and 12 d @mommdc

11

On our W2 it has code D in box 12a and an amount listed. In box 13 Ret. Plan is checked.

12

I don’t see that on mine. What forms to you have? i have the 1040 one… @mommdc

P.S. Retirement plan is not checked on my forms on box 13… What does that mean???

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@BelknapPoint @Madison85

Isn’t this person looking for box 12d?

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It’s on the W2- Wage and Tax statement. You get that from your employer and it lists your gross income, social security and medicare income, federal, state local tax withheld from your pay.

My husband participates in an employer sponsored 401k retirement plan.

The boxes mentioned above, in regards to FAFSA, refer to the W2, not the 1040 (tax return).

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It says that the 401K is on 12a… but i don’t know what to put for question #94a. Is that what I’m supposed to put? @mommdc @thumper1

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“It” says the 401k is in box 12a?

Who is “it”?

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On my 1040 forms, box 12a has “401k” in it. Is that what i answer on questions #94a: "“Payments to tax-deferred pension and retirement savings plans: Payments to tax-deferred pension and retirement savings plans (paid directly or withheld from earnings), including, but not limited to, amounts reported on the W-2 Form in Boxes 12a through 12d, codes D, E, F, G, H, and S. Don’t include amounts reported in code DD (employer contributions toward employee health benefits) question” @thumper1

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@almaa_card123

@BelknapPoint and @Madison85 can better answer your question!

But I think you answered it yourself. According to the instructions…it’s anything in boxes 12a through 12d.

I am hoping the others will chime in!

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okay, thanks @thumper1

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Listen to the others about this!