An employee receives both regular wages and a company car for personal use. How is the personal use value of the company car reported on the W-2?
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A
It is excluded from the W-2 as a working condition fringe benefit
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B
It is included in Box 1 wages and also reported in Box 14
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C
It is reported only in Box 12 with code V
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D
It reduces the employee's Box 1 wages