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ON MY W-2 LINE 14 IRC414H, IS THIS AMOUNT TAXABLE WITH NY

Resolved Question:

ON MY W-2 LINE 14 IRC414H, IS THIS AMOUNT TAXABLE WITH NY STATE?
Submitted: 4 years ago.
Category: Tax
Expert:  Merlo replied 4 years ago.

Hello moishmet,

 

Amounts reported in box 14 of your W-2 form are for informational purposes only and do not need to be reported separately anywhere on your tax return.

 

The amount of your wages that is subject to NY state taxes will show in box 16 of your W-2 form.

 

The IRC 414h refers to amounts contributed to your pension plan, 457 plan, 401(k) or 403(b) plan by your employer as being designated "employee contributions". These amounts may refer to nonelective employer contributions made on your behalf; after-tax contributions made by you; required employee contributions made by you and/or employer matching contributions. These amounts are for your information only and do not require any entries on your part in your tax return.

 

For more information I suggest you contact your human resources department for a further explanation.

 

If this was helpful please press the Accept button. Positive feedback is also appreciated.

 

Thank you moish

 

 

Customer: replied 4 years ago.
I THOUGHT I HAD TO INCLUDE THAT AMOUNT ON MY NYSTATE TAX AS AN ADDITION TO MY ADJUSTED GRASS INCOME.
Expert:  Merlo replied 4 years ago.

Hello again moish,

 

The amount should already be included in box 16 which reports your total NY state taxable wages.

 

Did you check to see if box 16 already includes that amount?

 

 

Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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