Box 14 on my W2 shows an amount designated 'Health Income'. What is this, and is it something that needs to be reported on my 1040?

[ToddL · Accepted solution]

The information that your employer lists in Box 14 of your W-2 does not usually affect your income tax return. In fact, for many Box 14 entries, the IRS does not even provide a place for it to get reported on your return forms. They are reported to you in Box 14 simply for informational purposes. If there are any tax implications, they should already included elsewhere in your Form W-2 and you don't need to enter them anywhere else.

[luchal]

Confused about whether health insurance premiums are deductible.  W2 Box 14 states NT Health Benefits with an amount in the box.  Research shows that such premiums are not deductible if they are paid from pre-taxed income.  How would I know this?

[Tbabby]

I live in Washington state and I have a WAN and WAL listed on w2 under Box 14.. what do those stand for? 

[macuser_22]

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@Tbabby  wrote:

I live in Washington state and I have a WAN and WAL listed on w2 under Box 14.. what do those stand for? 

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Box 14 is for "other" information that your employer wants you to know.   Your employer cn put anything they want in box 14.  If the code is not listed on the back of the W-2 then ask your employer what it means.

[tytonsager]

Box 14 shows PSL 511 for  $992.32 what is this for?

[macuser_22]

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@tytonsager wrote:

Box 14 shows PSL 511 for  $992.32 what is this for?

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Ask your employer.   Box 14 is information that your employer can out anything they want you to know.

[DMarkM1]

The "PSL 511" is "Paid Sick Leave at $511/day."  You will enter that in the W2 Box 14 area in TurboTax as Paid Sick leave, $992.32, and select the category for "Sick leave wages $511/day" in the dropdown menu. 

This is information for the employer to get credit for COVID Relief. 

[weatherned]

Box 14 can be taxable.  My employer puts our taxable Holiday gift card here and we have to pay taxes on it.

[RD104]

Box 14 on my W2 shows an amount designated 'MED $1,800'. When I started with the company, the company reimbursed me for 1 month of COBRA as their benefits don't start until after 60 days. This may be related to this. Is it something that needs to be reported on my 1040?

[JohnB5677]

You do not have to do anything.  Box 14 is provided for your employer to report additional tax information. It's simply an information box. 

If any amounts are reported in Box 14, it should include a brief description of what they're for. For example, union dues, employer-paid tuition assistance or after-tax contributions to retirement plans.  In this case it stated MED.  

That $1,800 Cobra payment would be included in wages in Box 1 of the W-2.  You do not have to do anything additional, unless you itemize your deductions and can claim it as a Medical Insurance expense.

@RD104
 

[BBjustBB]

WAL is Labor & Industries Workman's Compensation (aka injury insurance).

I don't know what WAN stands for.

[EllieWS]

@BBjustBB 

What category on TurboTax should WAL be?

Other deductible state or local tax or Other? Or maybe Washington Worker Compensation Fund tax?

[AnnetteB6]

If you live in Washington state, you should verify with your employer what the WAL abbreviation stands for.  

Most items reported on your W-2 in box 14 do not affect your state or Federal return, so you could classify it as 'other' if you cannot find out from your employer whether it is the Washington Worker Compensation Fund tax.

@EllieWS