W2 Box 14 lists PEN LTD

[Janet Miller]

W2 Box 14 lists PEN LTD and carries it to Schedule A as a deduction.  

This is Clients total LTD over the course of 42 years. 

Why is it carrying to Schedule A?

[Skylane]

Good question… haven’t heard this before… don’t enter it

[Just-Lisa-Now-]

what description did you give it? 

Youre the one that controls Box 14, when I type in PEN LTD in box 14, it doesnt automatically recognize what it is and assigns a category, I have to choose what it is.

[Skylane]

@Just-Lisa-Now- did you notice that OTprem in box 14 transfers the amount to the OT worksheet? 

[Just-Lisa-Now-]

I havent even tried, I just go direct to the OT section and enter it there.

[Skylane]

@Just-Lisa-Now- OT reporting on W2 will be required in 2026.  I'm thinking this is how EEs will be required to present it. I've seen a few instances of OTprem in box 14 and it works... I'm thinking INTU actually got ahead of the game... 🙂