W-2 Box 14 marked HEALT

[c627627]

What is the name of your state (only U.S. law)? KS

W-2 Box 14 marked Other has a small amount next to the word HEALT

How should this amount be treated on the 1040 form when filling out personal taxes?

 

[FlyingRon]

Sounds like an after tax health insurance payment. You can put it on your Schedule A (itemized deductions), but if it's a small value, it's probably below the threshold for counting for anything.

 

[c627627]

As I remember your health care spending has to be a significant percentage of your income to use Sched A, is that correct?

The weird thing is that it's only a couple of hundred dollars in that Box 14 marked HEALT.


For tax filing purposes, how does it affect the amount that's already in Box 1 (Wages)?

 

[FlyingRon]

Stuff in box 14 is almost always informational, you can usually ignore it.

Yes the threshold is fairly high for medical deductions so you need a lot of other uncompensated stuff going on to worry about it. Box 1 already reflects it (if it's taxable it's there, if it's not taxable, it's been deducted already). Occasionally, something that they don't take out pretax (i.e., is included in box 1 number) is deductible. You'd have to figure out what exactly it is that they're reporting there. In this case, as I said, even if it were deductible, it probably won't make any bottom line difference.