I have a general idea of what is included in BOX 14 but still do not have a complete understanding. What does the code CAFET mean? Is the amount taxable or is it for information only?
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Sounds like a cafeteria plan. Look at final paystub. Ask your client. Have him ask his HR department. It could be the amount he chose for salary reduction to cover his share of healthcare premiums; the amount would not show in boxes 1-6. But, other benefits could belong in his cafeteria plan, other types of insurance or childcare deductions, for instance. (Hopefully, childcare benefits are in box 10.) Yes, most box 14 items are informational, but some can help you, such as voluntary retirement contributions and the Savers Credit. So, ask your client what he contributes to via his cafeteria plan. -
Professor
Professor
As LION replies also see 2-14-16 post which is the same as you are asking.
In addition, save time and have client ask employer if it is for informational purposes or info that is to go on return, if not on clients pay-stub (one would think clients knows what it is).
from a StudentLast edited by TAXNJ; 02-22-2016, 04:50 PM.Always cite your source for support to defend your opinionComment
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