What Are Union Dues in Box 14?
You need to ask your employer if the amount in box 14 for medical expenses (premiums for insurance? What is this?) is pre-tax or not. Insurance premiums that are after-tax can be deducted on Schedule A (Itemized Deductions). May I assume that this is not an FSA or HRA contribution?
What do I need to know about box 14?
Savvy employers can use Box 14 to report any financial information to employees they wish to communicate. Here are some common “Box 14″ employee disclosures: •”S” Corporation health insurance premiums paid by the employer for 2%+ shareholder employees.
What to put in box 14 on W-2?
If Box 14 is reporting an annual calculation of an expense paid via employee payro ll deduction, such as after-tax HSA employee funding, we can insert an “accumulator code” and name that will tally the annual amount and enter it in Box 14.
