I received an additional W2 from my employer with just the following info on it:
Box (a) is filled out
Bob (b) is filled out
Box (c) is filled out
Box 14 has MED2 with an amount in it
All other boxes are blank.
Do I need this?
Can I combined this amount onto my other W-2 to e-file?
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Employers
use Box 14 on Form W-2 to provide other information to
employees. Generally, the amount in Box 14 is for informational purposes only;
however, some employers use Box 14 to report amounts that should be entered
elsewhere on your return. You cannot combine this particular W-2 with another, nor do you need to.
Employers use many different abbreviations and codes in Box 14 to report a variety of information. TurboTax cannot determine your employer's intent based upon the code or abbreviation used. If you have questions regarding the information reported in Box 14, contact the employer that issued the W-2.
If you have Box 14 information that needs to be reported on your return, it should be entered in the proper section of the Federal interview.
The box 14 shows some insurance paid etc which is considered as taxable. Box1, 2, and the rest don't show anything. I did get paid NIH research grant money. Since it is technically not a "wage" so that's the reason it is not included in Box1 etc? Is my assumption correct? The grant money is taxable and I file tax return for it. In the grant money I do add the taxable insurance etc listed in the Box 14 of the W2. I get this total taxable amount from the monthly pay stub. If I report all income correctly, then should I just ignore this w2? If not what should I do with it? thank you.
You don't need to enter the W-2 information in TurboTax as it doesn't report income or other necessary tax information. It sounds like you didn't perform services as an employee, that is why box 1 does not show wages. You should keep the W-2 in your tax records in case it is requested should you get audited in the future.
Thank you much ThomasM125 for your reply. You are correct that, most likely, I was not classified as an "employee" of the university. They were the conduits to disperse the NIH grant research funds. They don't issue any W2s to any of the researchers that get funding from the NIH grant. They emphasize that it is considered as taxable income and tell the researchers to file taxes. The pay stub shows the amount deposited into the researchers bank account, they don't withhold any money including federal, SS, state, local taxes, etc. Some of the insurance, student fees etc that the university pays that are listed in Box 14 of W2 and also separately identified in the pay stubs each month, and the university indicates that those fringe benefits are taxable also.
I use the "Misc income" item in the Turbo tax questions where I report this grant money. I add the Box 14 fringe benefits amount to the total deposited money in my bank account and report the total amount as Misc income. The question is: if I report this income as Misc Income category, and when Turbo Tax asks me: Do you have another W2, then I should just ignore it, and say no. Is this correct. Please answer this question directly.
I understand that I should keep the W2 for records purposes only.
Again, thank you for your help.
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