Cunning Runt Posted January 23, 2009 Share Posted January 23, 2009 I'm doing my taxes on Turbo Tax and when doing my work expenses, I completed my mileage, but then it asked me if I received any reimbursements not included in my Line 1 off my W2. I did receive an auto allowance and that amount is noted in Line 14 of W2. I was pretty sure the allowance was already considered as compensation and taxed accordingly and in Line 1 already. Are amounts on Line 14 of the W2 already taxed or not (included in Line 1 already)? Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted January 23, 2009 Share Posted January 23, 2009 Sounds reasonable, but not 100% sure. Quote Link to comment Share on other sites More sharing options...
budlitebrad Posted January 23, 2009 Share Posted January 23, 2009 Box 14 is typically just a catch-all for pretax deductions or whatever the employer wants to stick in there (insurance premiums, cafeteria, etc.) and is used mainly for informational purposes. Not sure about auto allowance though, so maybe you should check with your employer to see why it was broken out that way. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.