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esgodfrey
Level 1

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

 
7 Comments 7
Rasa-LilaM
QuickBooks Team

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

Welcome to the Community, esgodfrey.


Thanks for being part of the QuickBooks family. Let me share some insights into how the retirement plan is reported in your W-2 form.


When setting up a retirement plan, the amount is reported in Box 12 in the W-2 form.  The code differs depending on the type added in QBO. For additional information, click the Health Insurance link in the following article: Supported pay types and deductions explained.


If you wish to report the retirement plan to Box 13, I suggest consulting an account or tax adviser. They can recommend the specific pay type to use in tracking the payroll item in QBO. Additionally, these resources provide an overview of setting up a retirement plan and how it’s tracked in the W-2.

 

Feel free to click the Reply button if you have any clarifications or other QuickBooks concerns. I’ll be around to answer them for you. Have a great rest of the day.

Rasa-LilaM
QuickBooks Team

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

Greetings, esgodfrey.

 

I’m back to check if the information I shared answered your questions? I’m here to ensure your retirement plan is properly reported on the W-2.

 

If you have still need help with QuickBooks, feel free to leave a comment. I’m always ready to lend a helping hand. Enjoy the rest of the day.  

peggyrobbins
Level 1

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

My accountant told me that since there was a change in the tax structure last year I need to have box 13 checked (Statutory Employee) or I can not deduct my office Expenses.  My boss said that your company told him that you were not able to do that.  I did not believe him so I am asking to see how he enters my information in your system so that it can be checked. 

best program
Level 1

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

I need help in determining if retirement box should be checked. I wonder if it should be set  up for this. I am at a school and staff has IMRF but  teachers have TRS. SHould they be checked and if so how do I so this in the setup

DivinaMercy_N
Moderator

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

Look no further, @best program.

 

In Form W-2, the Retirement plan box (Box 13) tells whether an employee is an active participant in your company’s plan. If an employee was an “active participant” for any part of the year you should check the retirement plan box. Please refer to the info below: 

 

  • a qualified pension, profit-sharing, or stock bonus plan under Internal Revenue Code Section 401(a) (including a 401(k) plan).
  • an annuity plan under IRC Section 403(a).
  • an annuity contract or a custodial account under IRC Section 403(b).
  • a simplified employee pension (SEP) under IRC Section 408(k).
  • a SIMPLE retirement account under IRC Section 408(p).
  • a trust described in IRC Section 501(c)(18).
  • a plan for federal, state, or local government employees or by an agency or instrumentality thereof (other than a 457(b) plan).

 

Check it here for additional details: Form W-2 Codes for Retirement Plans.

 

Then, follow these easy steps to set up a retirement plan deduction in QuickBooks:

 

  1. Click the Gear icon. Then choose Payroll Settings.
  2. From Payroll section, select Deductions / Contributions.
  3. Pick Add a New Deduction/Contribution.
  4. In the Category field, tap Retirement Plans.
  5. For Type, choose the applicable retirement plan.
  6. Type the name of the provider or plan.
  7. Hit Ok.

 

Once done, here's how to add retirement plan deduction to an employee:

 

  1. Go to Workers, then pick Employees.
  2. Select the employee's name.
  3. Click the pencil icon in the Pay section. Scroll down on the deductions section. Then select +Add deductions.
  4. Choose Retirement Plans under Deduction/Contribution type. Then click the type of Retirement plan. set up 4.JPG
  5. Input the name of the provider. And the amounts per pay period. set up 5.JPG
  6. Hit Done.


Here's the article that will provide more info about the process: Retirement plan deductions/contributions.

 

Also, it's best to consult your tax adviser so we can ensure you have accurate information in tracking your payroll item in QuickBooks. 

 

I also encourage you to visit our QBO Help page, so you can browse articles or even questions of other QuickBooks users that were answered by QuickBooks experts. This will help you earn more knowledge that can help you with your accounting tasks.

 

Don't hesitate to post again here if you have further questions about setting up retirement plans in QuickBooks. I'll be around to help and provide answers to achieve your goal. Have a blissful new year and take care. 

Katford
Level 1

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

Is it possible to add a one time retirement payment to a W2?  I know I did it last year but I can't figure out how to do it this year.  The owners each put $19,500 towards retirement and the CPA wants me to add it to their W2.  I was able to mark the Retirement Box but cannot put the dollar amount in.

 

Thank you,

 

Kathie

Pabz_L
QuickBooks Team

How can I make sure that Box 13 "Retirement Plan" is checked when W2 is run? I cannot find how I answered in the interview process. This is new to me this year.

 

I’ll share some information when creating a retirement payment, @Katford.

 

Retirement payment or deduction has a limit and will depend on the type of retirement plan. You can use this article for detailed information about the deduction limit: Retirement plan deductions.

 

I also suggest contacting our Payroll support for further assistance. That way, you’ll be provided with the best solution. 

 

Feel free to click the Reply button if you have any clarifications or other QuickBooks concerns. I’ll be around to answer them for you. Have a great rest of the day.

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