rbynaker
Level 13
12-07-2019
05:40 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
But if they forfeited the other $1,015 instead of being reimbursed, then it's not "DCB" taxable income. ProSeries has a box to enter the forfeiture (between box 10 and box 11 on the W-2 Wks).
I've seen it go in different directions. Some smaller employers don't have a clue what they're doing when it comes to benefits and they just run it in-and-out on the W-2 without properly accounting for the expenses. Also, if there's a grace period allowed by the plan (75 days?), then the employer may not know how much to put in box 10 before the W-2 is due. So if the box 10 amount is not the reimbursed amount (including within the grace period), then it's up to us to play the part of Paul Harvey and prepare the tax return based on the rest of the story.
I've seen it go in different directions. Some smaller employers don't have a clue what they're doing when it comes to benefits and they just run it in-and-out on the W-2 without properly accounting for the expenses. Also, if there's a grace period allowed by the plan (75 days?), then the employer may not know how much to put in box 10 before the W-2 is due. So if the box 10 amount is not the reimbursed amount (including within the grace period), then it's up to us to play the part of Paul Harvey and prepare the tax return based on the rest of the story.
