Is a box for "Estimated Taxes" included on the W-2 Form?

Prepare for the Intuit TurboTax Level 1 Exam with comprehensive quizzes. Study with multiple-choice questions, explanations, and hints. Ensure your success on the TurboTax exam!

The W-2 Form, which employers use to report wages paid to employees and the taxes withheld from them, does not include a specific box for "Estimated Taxes." Instead, the form focuses on reporting wages, tips, and other compensation, along with withholding for income tax, Social Security, and Medicare. Individuals typically pay estimated taxes if they have income that is not subject to withholding, such as self-employment income or Rental income, rather than as a result of their employment reported on the W-2.

Since the W-2 is designed to reflect income earned through employment and the related tax withholdings, the concept of estimated taxes does not apply in this context, and therefore, a box for them is not included on the form. This leads to the conclusion that the answer is indeed "No." Understanding this distinction is important for anyone managing their tax responsibilities or preparing their return.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy