What item does not relate to W-2 Box 12?

The item that does not relate to W-2 Box 12 is the deduction for student loans. W-2 Box 12 is specifically used to report certain types of compensation and benefits that are important for tax calculation. Each code in Box 12 reflects different information about an employee's income or benefits which might affect taxable income or eligibility for certain credits.

For instance, HIRE exempt wages and tips, cost of employer-sponsored health coverage, and designated Roth contributions all have designated codes that employers use in Box 12 to report specific amounts. These amounts are pertinent for various tax calculations, such as those affecting taxable income or contributions to retirement accounts.

In contrast, student loan deductions do not get reported in Box 12 of the W-2 form. Instead, student loan interest is reported separately on tax forms, specifically as an adjustment to income on a taxpayer's Form 1040 or 1040A. Therefore, it does not fit within the structure or purpose of the information reported in Box 12 on a W-2.