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Thor1
Level 1

83b Election in W-2

How do I include income from an 83b election in my employee's W-2? The form was filed on time with the IRS. Everywhere we look says that this income should be included in the W-2, but I cannot figure out how to do this in Quickbooks. Does anyone have experience with this?

7 Comments 7
Michael K
Moderator

83b Election in W-2

Thanks for reaching out, @Thor1. Happy to provide some insight here.

 

At the moment, QuickBooks Online doesn't support the ability to populate the 83b election. If one of your employees has elected for this, you'll need to file this outside of QuickBooks Online at the moment. I've forwarded this idea to our Product Development Team for further review, as I think it'd be beneficial to you and other businesses.

 

Let me know if you have any other questions. I'm here to help. Have a good one!

Thor1
Level 1

83b Election in W-2

Thank you. If we can’t account for the 83b election in the W-2 through Quickbooks, how would we do it? Presumably we have to report our end of it (precluding him from just reporting it as other income). Thanks again!

Thor1
Level 1

83b Election in W-2

Thank you. If we can’t put the 83b income in the W-2 through Quickbooks, how do we do it? Presumably we have to include our end of this, precluding him from just calling it other income. Thanks again!

Catherine_B
QuickBooks Team

83b Election in W-2

Hi there, Thor1. 

 

It's best to consult a tax professional or the IRS to help us identify how we report 83(b) Election in the employees W-2 Form. I have the IRS link here where they posted their Telephone and Local Assistance numbers. 

 

Feel free to get back to us if you need more help with your payroll forms. Keep safe!

accounting10111
Level 1

83b Election in W-2

Any answer discovered for this? To be clear, we've already submitted the 83(b) elections and are simply trying to record this information correctly in QBO for tax purposes. Thank you!

MirriamM
Moderator

83b Election in W-2

Being able to record the 83B information in QuickBooks is my top priority, @accounting10111.

 

Since every business is unique, I recommend consulting your accountant or tax professional for guidance. They can provide more expert advice in dealing with this concern.

 

If you need tips and related articles when managing your account in the future, feel free to visit our Community website for more insights.

 

If you have additional questions or concerns, you can leave me a comment below. I’ll be happy to help you out.

accounting10111
Level 1

83b Election in W-2

You just recopied exactly what was typed before. If it was useful I wouldn't have repeated the question. 

 

More hopeful that the other person that asked the question has found a solution than QBO customer service.

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