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Understanding W-2 box 14 codes can unlock hidden details about your compensation and benefits. Interpreting these codes correctly could reveal tax savings opportunities you may be missing out on. This comprehensive guide will decode box 14 by explaining what it’s for and providing a detailed breakdown of common codes.
Below is a list of some of the most common codes you might find in Box 14 of your W-2 form. Each code is accompanied by a brief explanation to help you understand what it represents. These are contributions made to a Roth 401 (k) account.
Box 14 can contain a variety of different codes, depending on your employer and the information they choose to include. Some common codes that you may see in Box 14 include: Code A: This code may indicate any union dues you paid during the year. Code B: This code may represent any after-tax contributions you made to a retirement plan.
31 Οκτ 2024 · What is box 14? Box 14 is used to report amounts that don’t belong in other boxes on Form W-2. Employers can use it to report additional tax or income information for filing or informational purposes. Some employers use box 14 to report amounts deducted for State Disability Insurance taxes or union dues that may be tax deductible.
1 Φεβ 2022 · Box 14: Other Your employer would use this field to report anything that doesn’t fit in a different area on the form. This might include nontaxable income, union dues, uniform payments, and health insurance premiums.
Box 14 — Employers can use W-2 box 14 to report information like: A member of the clergy’s parsonage allowance and utilities Any charitable contribution made through payroll deductions
Employers can put just about anything in box 14; it's a catch-all for items that don't have their own dedicated box on the W-2. In TurboTax, enter the description from your W-2's box 14 on the first field in the row. Enter the dollar amount and select the correct tax category that goes with that description.
