What does it mean if you have an X in box 13 statutory retirement third party
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New Member

What does it mean if you have an X in box 13 statutory retirement third party

 
4 Replies
Level 4

What does it mean if you have an X in box 13 statutory retirement third party

As you mentioned in your question, Form W-2 Box 13 has 3 Different "Check Boxes".  Below is an explanation of each:

  • Statutory Employee: If this box is checked, you are treated as Self-Employed for tax purposes and must report your income and expenses on Schedule C.  This status usually applies to Employees working on Commission like Real Estate Agents, Life Insurance Salespersons, and Direct Sellers.
  • Retirement Plan: If this box is checked, it means you had access to a Retirement Plan through your Employer during the year such as a 401(k). A check in this box may limit your ability to get other tax incentives for retirements plans like deductible IRA Contributions.
  • Third Party Sick Pay: If this box is checked, you received payments for sick-pay from a company other than your employer, usually an insurance company.  Generally, these payments are not included as Wages in Box 1 of your Form W2.
Returning Member

What does it mean if you have an X in box 13 statutory retirement third party

In error I checked the third party sick pay box instead of the retirement plan box--how do I fix this?

Expert Alumni

What does it mean if you have an X in box 13 statutory retirement third party

Here is how you edit Box 13 (Third Party Sick Pay) of your W-2.

 

Type 'Form W-2' into the search box

Select 'Go to W-2'

Then select 'Edit', next to the W-2 you need to edit.

Uncheck the box for Third Party Sick Pay

 

@sam1982

 

 

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Returning Member

What does it mean if you have an X in box 13 statutory retirement third party

Well, I guess I should have stated that I already filed it and it has been accepted--so I cannot change the W2.

Thank you.

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