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Line 14 of my W-2 says DIP. What does that mean

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I work for a bank...
I work for a bank service corporation
Submitted: 12 years ago.Category: Tax
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Answered in 3 hours by:
2/14/2005
Tax Professional: Barbara Lamar, Tax Lawyer, CPA replied 12 years ago
Barbara Lamar
Barbara Lamar, Tax Lawyer, CPA
Category: Tax
Satisfied Customers: 188
Experience: JD, MBA University of Texas at Austin, over 18 years representing small businesses
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Did you participate in any sort of Deferred Interest Program?
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Customer reply replied 12 years ago
Reply to Barbara Lamar's Post: NO. I only worked part time and participated in nothing. I paid for dental insurance out of each check, but the amt. listed next to DIP was greater than my total insurance payments.
Tax Professional: Barbara Lamar, Tax Lawyer, CPA replied 12 years ago
Box 14 is supposed to be for distributions from nonqualified deferred compensation plans.

If there was no dollar amount in the box, you don't need to worry about it. If there is a dollar amount in the box, you need to talk to whoever does the payroll where you work and ask if they've made a mistake.
Barbara Lamar
Barbara Lamar, Tax Lawyer, CPA
Category: Tax
Satisfied Customers: 188
Experience: JD, MBA University of Texas at Austin, over 18 years representing small businesses
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