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In Box 14 I have EEHLTHINS listed on my w2. What code should be used?
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In Box 14 I have EEHLTHINS listed on my w2. What code should be used?
It stands for "Employee Health Insurance" and shows how much you, the employee, paid for health insurance. It is not a taxable item of income. If those funds came out of your paycheck pre-tax, it has no effect on deductions or credits either. If they were paid with after-tax paycheck deduction, then they could be treated as insurance premiums that are part of medical expenses, one of the possible itemized deductions. In that case, though, they would be included in your Box 1 taxable income. As one can only deduct medical expenses that exceed 10% of your adjusted gross income, this is probably moot.
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In Box 14 I have EEHLTHINS listed on my w2. What code should be used?
It stands for "Employee Health Insurance" and shows how much you, the employee, paid for health insurance. It is not a taxable item of income. If those funds came out of your paycheck pre-tax, it has no effect on deductions or credits either. If they were paid with after-tax paycheck deduction, then they could be treated as insurance premiums that are part of medical expenses, one of the possible itemized deductions. In that case, though, they would be included in your Box 1 taxable income. As one can only deduct medical expenses that exceed 10% of your adjusted gross income, this is probably moot.
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