What is other on W-2?
An employer fills out the forms, and includes information like wages earned, Social Security wages earned, sick leave wages, tips, and recurring taxes taken out of the employee’s paychecks throughout the year. Other compensation that is reported on a W-2 includes taxable wage benefits.
What does other mean in Box 14 of W-2?
Select “Other (Not Listed Here)” for the Code for your Box 14 entry. If the item is not specifically included in the list on the drop-down menu for Box 14, the IRS has not provided a place or specific instructions for reporting it.
What category are union dues Box 14?
Dues listed in box 14 on your W-2 should be listed under Other (not classified). You can no longer deduct miscellaneous employee expenses (such as dues) under the Tax Cuts and Job Act and should not have any effect on your return in 2020.
What is wages tips and other compensation?
Wages, tips and other compensation describes the total federal taxable income reported by your employer. The total dollar mount is a combination of your gross pay, plus any cash you received, plus any noncash benefits. The cash-received portion usually refers to tips that you report, but can also include cash bonuses.
How do I know how much im getting back on my W-2?
Box 2 on our W2 is the amount of tax withheld from your wages. However, this does not tell you how much you will get back. On your form 1040, you will see your refund on line 75.
How do I report union dues on W-2?
Employers disclose Union Dues paid by employees in Box 14 on Form W-2. You can deduct dues and initiation fees you pay for union membership as unreimbursed employee expenses on Line 21 of Schedule A (Form 1040) Itemized Deductions.
How do union dues appear on W-2?
Look at box 14 of your W-2 form. This is a box your employer uses to record information about your pay that does not affect your taxable income or taxes. The union dues deducted from your pay during the year are shown in this box.