Yes, that's your per diem. The company has free rein over how to denote it on your W-2. I believe that Turbo Tax calls it that.
The 2% is that your expenses have to exceed 2% AGI before you can get the 80% deduction. It's a floor, not a cap.
Originally Posted by
rvr350
I know i can find how much per diem the company gave me in box 12L on my W2. But one of my previous company didn't use that box, and i was told it's the same as "misc non-taxable comp". Does that sound about right?
Also, i read per diem deduction can't exceed 2% AGI, how does it work? Any help is much appreciated.