Box 14 of my w2 contains the nt health benefits, in which form do I record it
Box 14 of your W-2 is used by employers to provide additional information to employees. The items reported in Box 14 can vary widely and may include things like union dues, educational assistance, or, as in your case, "NT Health Benefits." "NT Health Benefits" likely refers to non-taxable health benefits. These are typically employer-provided health insurance premiums that are not subject to federal income tax. Here's how you handle them: 1. **Reporting on Tax Forms**: Generally, non-taxable health benefits reported in Box 14 do not need to be reported on your federal tax return. They are provided for informational purposes and do not affect your taxable income. 2. **Record Keeping**: It's important to keep your W-2 and any related documentation for your records. While you don't need to report these benefits on your tax return, having the information can be useful if you need to verify your health coverage or if you have questions about your benefits. 3. **State Tax Considerations**: While federal tax treatment is straightforward, state tax rules can vary. In Illinois, for example, non-taxable health benefits are generally not subject to state income tax either. If you have any doubts or specific questions about how these benefits might affect your taxes, especially if there are unique circumstances, consulting a tax professional can provide clarity.
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