What does W-2 Box 12 Code H denote?

W-2 Box 12 Code H specifically denotes contributions to a retirement plan under section 501(c)(18)(D). This code is used to report amounts that have been contributed to a qualified retirement plan that meets certain IRS requirements under that specific section. These contributions refer to specific types of plans that are often associated with certain organizations or types of employment rather than the typical 401(k) plans.

Understanding the significance of this code is essential for taxpayers who are participating in retirement plans that fall under the 501(c)(18)(D) provisions. These contributions can be important for tax filings and for managing tax liabilities effectively, as different types of retirement contributions can have varied implications on an individual's taxable income.