What is K on Box 14 on W2?

What is K on Box 14 on W2?

K is for the pre-tax dental and vision insurance deduction amount. This is the amount you had withheld during the year to pay for your dental and vision coverage. It is a reporting number only on the W2 itself and not used in calculating taxable wages.

What is W2 Code K?

K = Pre-tax dental and vision deductions. P = Parking Fringe Benefits/Employer Provided Vehicle (Included in Box 1) R = Retirement Deductions (Civilian employees who have wages earned in Puerto Rico) S = FEHB Employee Deductions (Civilian employees who have wages earned in Puerto Rico)

What does K and V mean in Box 14 of W2?

Box 14 is where taxable fringe benefits are summarized, but it does also include a documentation of several Non-Taxable items (i.e., via pre-tax dollars), such as: code K (non-taxable dental/vision deductions); code V (non-taxable health benefits); code Y (non-taxable flexible spending accounts [FSA]). …

What are the codes for Box 14?

Box 14 — Employers can use this W-2 box to report information like:

• A member of the clergy’s parsonage allowance and utilities.
• Charitable contributions made through payroll deduction.
• Educational assistance payments.
• Health insurance premiums deducted.
• Nontaxable income.
• State disability insurance taxes withheld.

What is IRS Schedule k1 form 1065?

Schedule K-1 (Form 1065) is a source document that is prepared by a Partnership as part of the filing of their tax return (Form 1065). The K-1 reflects a partner’s share of income, deductions, credits and other items that the partner will need to report on their individual tax return (Form 1040).

What is Box 14 Code A of IRS Schedule K 1 Form 1065?

Line 14A – Net Earnings (Loss) from Self-Employment – Amounts reported in Box 14, Code A represent the amount of net earnings from self-employment. For Limited Partners this amount generally includes any guaranteed payments received for services rendered to or on behalf of the partnership.

What are Social Security wages on my W-2?

Social Security Wages Box 3 on the W-2 form shows the total wages an employee received that are subject to the Social Security tax. Each year, the Internal Revenue Service sets a maximum amount of income that is subject to the Social Security tax.

Is Form 1065 the same as K-1?

What does K in box 14 of W2 mean?

What does code K in box 14 in a W2 refer to? K is for the pre-tax dental and vision insurance deduction amount. This is the amount you had withheld during the year to pay for your dental and vision coverage. It is a reporting number only on the W2 itself and not used in calculating taxable wages.

What is box 14 on W2?

State disability insurance taxes withheld

What should go in box 14 on my W2 form?

State disability insurance taxes withheld

What is box 14 on my W-2 for?

A member of the clergy’s parsonage allowance and utilities