Box 20 on my W2 says Total what do I do
AI accountant’s answer:
Box 20 on the Form W-2 does not exist. I suspect you might be referring to another form, such as Form 1099 or Form 1040, or you may have mixed up the box numbers.
If you meant Box 12, Box12 contains codes and amounts related to various types of compensation and benefits, such as non-taxable sick pay, employer-sponsored health coverage, nonstatutory stock options, and more.
If you can provide the correct box number or a description of the information present in the box you're referring to, I can provide more guidance. Remember to double-check your form and box numbers when looking for tax-related information.
A tax pro reviewed this answer:
Box 20 is actually the locality name for local income taxes (e.g., NYC). It is informational only.
Not Correct.
Keeper’s AI Accountant V2
V2 is still a fine-tuned instance of GPT-4. Improvements over V1 include more comprehensive tax code embeddings, and a better chain-of-reasoning retrieval system.