how do you report 3rd party TDI benefits on W-2 via quickbooks?
TDI benefits paid to an employee are taxable. Therefore, employers are to indicate benefits paid on the W-2. How does one do this using Q.B. and where does it go on the W-2 form?
David, Did you figure out how to record this in QB? I have a similar problem. One of our employees was on TDI and I received a notice that the employer portion of FICA taxes on the TDI benefits is my responsibility. I can easily pay the taxes using the online EFTPS system but I don't know how to record it correctly in QB. I must also include the total TDI benefits as taxable on the W-2. Any help you can give me is greatly appreciated.
Aloha Jen. Yes, I was able to figure it out. Go to the EMPLOYEES menu and select PAYROLL TAXES AND LIABILITIES --> ADJUST PAYROLL LIABILITIES. A pop-up window appears. Select the proper date (any date within the month of the TDI benefits) and make the effective date the same. In the same window, click the circle: EMPLOYEE under "ADJUSTMENT IS FOR" title. Then, select the employee from the drop down menu. Now, go to the Taxes and Liabilities section and enter the FICA lines as required according to your TDI statment. ***REMEMBER: TDI is also subject to FUTA at .008 of wages. this also has to be entered monthly here and paid quarterly. I enter all three at the same time.
At end of year, Q.B. will have a W2 dialog box that will ask about TDI and the questions can easily be answered usuing the end-of-year statment from your TDI carrier.
Hope that helps.
