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New Member
posted May 16, 2021 2:45:29 PM

What do the K and Y codes mean on W-2, section 14

it says see instructions for box 14?

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1 Replies
Expert Alumni
May 16, 2021 2:57:15 PM

Are you sure that this is in Box 14 and not Box 12?

 

Most codes in Box 14 are not predefined by the IRS, which means that you must contact your employer and ask what they meant by these codes.

 

P.S. there are codes K and Y for box 12 (Code K—20% excise tax on excess golden parachute payments (not applicable to Forms W-2AS, W-2CM, W-2GU, or W-2VI) and (Code Y—Deferrals under a section 409A nonqualified deferred compensation plan), but if this is what they meant, then your employer put them in the wrong box. Ask them to reread the W-2 Instructions.