Decoding Your W-2 Tax Form

What is the deadline for employers to send the W-2 form to employees?

• March 1

• January 31

• December 31

• February 15

What type of income is reported in Box 1 of the W-2 form?

• Taxable income

• Investment income

• Deferred income

• Non-taxable income

What information does Box 2 on the W-2 form display?

• Allocated tips

• Earnings subject to Social Security taxes

• Federal income tax withheld

• Total taxable income

Which boxes indicate the amount of earnings subject to Social Security and Medicare taxes?

• Boxes 7 and 8

• Boxes 1 and 2

• Boxes 3 and 5

• Boxes 4 and 6

Which box on the W-2 form is used for reporting tips earned?

• Box 10

• Box 8

• Box 7

• Box 9

What does Box 12 on the W-2 form represent?

• Federal income tax withheld

• Total earnings

• Compensation or reductions to taxable income

• State income tax information

Which box would contain information about employer-provided health savings account contributions?

• Box 14

• Box 11

• Box 10

• Box 12

What is the purpose of Box 13 on the W-2 form?

• To indicate employment status and retirement plan participation

• To report deferred compensation

• To report state disability insurance taxes withheld

• To display allocated tips

What does Box 14 on the W-2 form typically include?

• State and local income tax information

• Deferred compensation

• Additional tax information not covered elsewhere

• Federal income tax withheld

How can wages for two states be reported on the W-2 form?

• In Box 1

• In Box 12

• Using Boxes 15 to 20

• It's not possible