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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29575
Experience:  Taxes, Immigration, Labor Relations
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What does SEC125 in box 14 of the W2 mean?

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What does SEC125 in box 14 on my husband's W2 mean?

That is an amount of contribution into a cafeteria plan (URC section 125) - your husband has an account in health care OR child care OR parking cafeteria plan.

That amount is excluded from box 1.

Let me know if you need help in reporting.

Customer: replied 8 years ago.
Would this be what we paid for our part of health insurance premiums? That's the only thing I could figure...the others don't apply to us & I'm having to do our 2005 taxes that we somehow overlooked.

Some employers who do not offer employer sponsored health insurance - use section 125 health saving account to put pre-tax money through payroll deductions and use these funds to pay a premiums for employee's health insurance.

This technique allows to pay for health insurance with pre-tax money.

So you guess might be correct.

That is not taxable income because it was already excluded from box 1 - so you should not worry about reporting.

Lev and other Tax Specialists are ready to help you