W-2 Tax Forms
Your 2014 W-2 form will be mailed to your most current mailing address on file with Human Resources (typically your home address) in late January. You can also view your W-2 on C2HR. The online W-2 has the same information as the mailed W-2. Please use C2HR to reprint your W-2.
To reconcile your W-2, follow the directions below. You can also use an online W-2 Calculator.
How to Read Your W-2
Using the last paystub that you were paid in 2014:
BOX 1: Wages, tips, other compensation
1. Earnings Section
- Begin with the amount shown as the TOTAL of all Year To Date (YTD) Earnings
- Subtract the YTD Amount for LTD Flex Credit*
- Subtract the YTD Amount for any earnings listed as "Nontaxable" (Nontaxable Tuition, etc)
2. Before-Tax Deductions
- Subtract the Total Year to Date (YTD) Deductions from the amount calculated in section 1 above.
3. Employer Paid Benefits & Other
If your annual salary is greater than $50,000:
- Add the Year to Date taxable amount shown as Basic Group Term Life to the amount you calculated in Sections 1 & 2 above.
The net calculation should be the amount shown in Box 1 of your W-2.
* The LTD Flex Credit is only applicable up to the 2013 W-2.
BOX 2: Federal income tax withheld
This is the Year to Date (YTD) Amount for Federal Withholding shown in the "Taxes" section of your final 2014 paystub.
BOX 3: Social Security wages
Box 1 amount plus Year to Date (YTD) 403b and 457b Before-Tax Deductions. The 2014 maximum is $117,000.00 for this box.
BOX 4: Social Security tax withheld
This is the Year to Date (YTD) Amount for "Fed OASDI/EE" shown in the "Taxes" section of your final 2014 paystub. This amount is 6.2% of the amount shown in Box 3. The 2014 maximum is $7,254.00 for this box. Vanderbilt has matched your tax contributions with an equal amount.
BOX 5: Medicare wages
Box 1 amount plus Year to Date (YTD) 403b and 457b Before-Tax Deductions. There is no limit on these wages.
BOX 6: Medicare tax withheld
This is the Year to Date (YTD) Amount for "Fed MED/EE" shown in the "Taxes" section of your final 2014 paystub. This amount is 1.45% of the amount shown in Box 5. An additional Medicare surcharge tax of 0.9% on wages in excess of $200,000 was withheld. Vanderbilt has contributed 1.45% of the amount shown in Box 5.
BOX 7-9: Not applicable for Vanderbilt University
BOX 10: Dependent care benefits
Note: This box includes Dependent Care Personal Spending Account deductions.
BOX 11: Nonqualified Plans
BOX 12: Multiple items may appear in these boxes.
The following codes may appear:
|C||Taxable Group Term Life -- for individuals with Vanderbilt-provided life insurance amounts greater than $50,000|
|E||Voluntary Contributions to 403(b) -- includes all VOLUNTARY employee retirement contributions (Basic & Supplemental); Mandatory contributions are NOT included in this amount.|
|P||Excludable moving expenses paid by Vanderbilt|
|T||Adoption assistance benefits provided by Vanderbilt|
|DD||New this year: Reporting Employer Provided Health Coverage - reporting the cost of medical coverage (employee and employer portions). This is for informational purposes only and not used for filing your tax returns.|
Guidelines for other codes that may appear are explained on the back of the W-2
BOX 13: The following boxes may be checked:
- Statutory Employee - Not Applicable for Vanderbilt University
- Retirement Plan - this box would be checked if you are enrolled in the Union Pension Plan, or have mandatory or voluntary 403(b) retirement deductions
- Third Party Sick Pay - Not Applicable for Vanderbilt University
BOX 14: Multiple items may appear in this box.
The following items could appear:
- Taxable Auto - personal use of Vanderbilt provided automobiles
- Taxable Tuition - taxable tuition benefits paid to you, or on your behalf
BOX 16 - 21: State and Local Tax Information
These boxes should be used only for faculty, staff or students who are residents of, or work in a state where Vanderbilt is a registered employer.