W-2 Form

[S T]

Hmm - I have a W-2 form that in Box 14 has a code V for $ 2,079.99 - this is suppose to be for non-statutory Stock Options and included in Box 1 as taxable

The W-2 is from DFAS and the pay stub shows that it is non-taxable and is not included in taxable wages.

What else would be a Code V?? Do I need to be concerned about any additional reporting for this item?

Sandy

[Jesse]

Sorry - no help just a comment.........

Military has a code system of it's own - it's frustrating.

[Jesse]

Here is another discussion

http://www.taxalmanac.org/index.php/Discussion:Military_W-2_with_V_in_Box_14

Box 14 Code V appears to be Pretax Federal Employee Health Benefit Incentive on a military W-2

[Koss]

Not Stock Options

I don't have an answer for what that figure represents. The only thought that I have is that it should be somewhere in some sort of collateral documentation provided to the employee.

FYI--

Code V for nonstatutory stock options applies to Box 12, not Box 14.

The IRS instructions for Form W-2, for Box 14, may give you some clues as to what this figure represents. The following text is from the employer's instructions for Form W-2--not the employee's instructions that appear on the back of the form.

Box 14—Other. If you included 100% of a vehicle's annual lease value in the employee's income, it also must be reported here or on a separate statement to your employee. You also may use this box for any other information that you want to give to your employee. Label each item. Examples include state disability insurance taxes withheld, union dues, uniform payments, health insurance premiums deducted, nontaxable income, educational assistance payments, or a member of the clergy's parsonage allowance and utilities. In addition, you may enter the following contributions to a pension plan: (a) nonelective employer contributions made on behalf of an employee, (b) voluntary after-tax contributions (but not designated Roth contributions) that are deducted from an employee's pay, (c) required employee contributions, and (d) employer matching contributions.

If you are reporting prior year contributions under USERRA (see the TIP before Code D on page 10 and Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA) makeup amounts to a pension plan on page 6), you may report in box 14 makeup amounts for nonelective employer contributions, voluntary after-tax contributions, required employee contributions, and employer matching contributions. Report such amounts separately for each year. Railroad employers, see page 6.

The complete PDF of these instructions can be found here:

http://www.irs.gov/pub/irs-pdf/fw2.pdf

BMK

[S T]

Thanks for the correction

Burton, you were right I was looking under Box 12 - so I don't have a clue on this Box 14 - Guess it is for info only and clearly shows on the Year End Pay Stub as non-taxable and not included in taxable wages.

Jesse, Thanks for the link - yes I believe I came to the determination that it is health benefits pre-tax

However box 14 clearly has a "V: code - after googling seems it could be non taxable health benefits - guess I am not the only one that has run into this for 2011 from the Google Search

Sandy