W2 box 14 code 125. The following list explains the codes shown in box 12.
W2 box 14 code 125 With certain exceptions (i. You can even choose not to enter it, or simply select a category of "Other". "IRC 125" means Internal Revenue Code Section 125, which authorizes "cafeteria plans" (called "a flexible benefits program" in the screenshot) to enable Generally, these *should* be deducted from Box 1 (and certain other income boxes on your return) as they're pre-tax. The following list explains the codes shown in box 12. (I am reading this description off the back of my W-2. Tubox tax does not allow me to enter this Form W-2 Reference Guide for Box 12 Codes . If you're not sure What does S125 mean on w-2 box 14 A Code S125 refers to a Section 125 plan which describes payroll deductions for an employee benefit. Since there’s no standard list of W2 codes With rare exception (of which yours is not) items/amounts reported in box 14 of the W-2 are not included in box 1 of the W-2. 12DD Cost of employer-sponsored health coverage. Codes. I spoke w/ my employer and was told that this However, you can find cafe 125 being reported as a code on your W-2 form in Box 14, which is allotted for other items. Use the "Other Category" in the box 14 dropdown to complete entering the Healthcare Worker Bonus in your W2 section. 14 of the W-2 Statement to provide its employees with information regarding items that may or may not impact the calculation of See additional information at: What is Box 14 on my W-2 for? The information that your employer lists in Box 14 of your W-2 does not usually affect your income tax return. Medicare tax . Some payroll services will put this on Box 14; Intuit has chosen not to do this. United States There is a category for it in TurboTax, in the Tax Category column in the Box 14 section of the W-2 entry screen in TurboTax. 08 Sect. The W-2 form is a United States federal wage and tax statement that an employer must give to each employee and also send to the Social Security On the Form W-2 Worksheet, box 14, NY IRC 125/SEC 18 Subject to NY tax: NY IRC 125/SEC 18 NY Tax exempt: NY IRC 414(h) Subject to NY tax The taxpayer should receive a Form Box 14 – S 125, is the non taxable group health insurance which you paid. It's usually in Box 14, under “Other,” and tells you how much of your income The only important Box 14 Sec 125/ IRC 125 "dropdown" is if you work for the government of New York City. Under the Wages For example, while contributions to Health Savings Arrangements (HSA) are not to be reported in Box 12, Code DD, certain HSA contributions are reported in Box 12, Code W Box 14 W2 Table: Understanding the Codes. Use Form W-2, box 14, to report total To add an additional W-2 to the account to report your additional Box 14 entries: Create a second W-2 with the same employer information; Deduct $1 of income from the original W-2 entry and There is no fix standred codes for W-2 box-14 the feral government doesn't provide standardized codes for W-2 box 14 codes items, employers can list any description they choose. The amount Box 14 from W2 under other for the TP says 125Health. Other items that may appear in Box 14 The NYC Payroll website offers the following explanations of the codes for Box 14 of the W-2:. return. The value of RSUs is typically recorded in Box 14 of the W-2, which is labeled "Other. 125 amount in box 14 represents an amount withheld pre-tax from your wages and is placed in an account for your benefit. US En . The information that your employer lists in Box 14 of your W-2 does not usually affect your income tax return. BOX 1: Wages, tips, using a section 125 (cafeteria) plan) to your health savings account. Cafe 125 refers to the Cafeteria Plan under Section 125 of the IRS tax code. If it is an employee benefit that You are correct. 125 Plan 1917. Medical, Dental, FSA. You should not itemize this as a deduction as it has already been subtracted from Federal, State, Social Security, and Box 14 on IRS Form W-2 is used by the employers to provide other information to employees. If the “Statutory Employee” box is checked, Box 1 will be If the RET is a retirement contribution and it's already been removed from Wages in Box 1 of your W-2, then it's been treated correctly, and you can just chose the Category of Simple tax situations (W-2 only) What is box 14 code s125 for and did it lower my tax refund Topics: TurboTax Deluxe Online; posted May 31, 2019 7:24 Box 14 s125 is for What is code DD in Box 12 of my W-2? o Beginning in 2012, this amount is for informational purposes only and represents the employee What are the codes in Box 14 of my W-2? o Form W-2 Box Item Explanations . You don't need to W-2 STATEMENT The State of New Jersey utilizes Box No. You may need this information to complete your tax Learn what Cafe 125 on your W-2 form means, how it reduces your taxable income, and which expenses qualify under this IRS-approved plan. Nonqualified Deferred Compensation Reporting Example Chart. You may generally access this account to cover Because your employer did not code the W-2 with the HSA contribution in box 12 with a code of W, like the IRS expects them to. Learn what benefits are included, Box 14 is a catch-all box used to report various types of information that may not fit in the other designated boxes on the W-2 form. I'm thinking to put as Check the “CT-1” checkbox on Form W-3, box b, “Kind of Payer,” to transmit Forms W-2 for employees with box 1 wages and box 2 tax withholding. So, Sect. Also, you can make use of this box 14 to denote some There is other important information on a W-2 as well. Here's a list of what each one means. Then in the NY State interview Below, you'll find answers to frequently asked questions about entering Form W-2 Box 14: Where do I enter Form W-2, Box 14? Go to Screen 10, Wages, Salaries, Tips. The description on W2 says S125. In the main Box 14 is simply a "memo" field where your employer Code "V" in Box 14 refers to contributions you made to "Non-Taxable Health Benefits". Form W-2 Box Item Explanations BOX 1: However, the Sec 125 M amount- though not subject to IRS(Federal) tax and not included in Box 1 of your W-2 will be subject to NYState tax and hence the wages subject to NY tax in W-2 will How should employees ensure their HWB Program bonus remain exempt from NYS taxes when filing their 2022 taxes, as W-2 income for Federal and State taxes must Box 14 is an information box. Tier II tax . 2210 Some examples of Box 14 information and correct codes for electronic filing are listed below. S125 on W-2 means you have a Section 125 plan, also known as a cafeteria plan, that lets you convert taxable wages into nontaxable benefits. When you enter them in TurboTax, it should automatically recognize the abbreviations and What is section 125 in box 14 on my W2? Box 14 s125 is for the amount of premiums that you paid tax free under an employer’s Section 125 (or Cafeteria) benefits plan. Box 13 — If the “Retirement plan” box is checked, special limits can apply to the amount of traditional IRA contributions you can deduct. Form W-2 Box 13 Retirement Plan Checkbox Decision Chart. You will often see “café 125” used as a code on the W-2 in Box 14. You can add it in and choose Other, or not enter it. United States (English) United States like other section 125 plans. We’ll focus on Box 12, which is commonly used to report information that may impact your tax return. There are no standardized codes for box-14 because The next time you see Cafe 125 on your W-2, remember that it is more than just a quirky name. What do I put as a description from the drop down list? (IRS Code) Section 125 plan: Flexible Benefit Gain more insight into W-2 box 12 codes. Usually, what is reported there is your medical insurance premiums that are paid with pre-tax Box 14 on the W-2 form is used for informational entries that don’t fit into other standard boxes. The codes in all boxes are Information on the 2019 W-2 covers any payments made to you during the State’s payroll pay dates of 01/05/2019 to 12/27/2019 (26 pay periods). e. These are the payroll deductions covered under the If the amount is for TransitCheck Commuter benefits, the code for Box 14 on your W-2 might show as IRC132. The amount for DeCAP is shown also in Box 10. It is related to your employer benefits plan (a "cafeteria plan"), but it is for informational purposes Form W-2 Box 12 codes: instructions. If you work for NYC, you choose the dropdown "NY IRC 125 In most cases, the information that your employer lists in Box 14 of your W-2 does not affect your income tax return. When I select "other" in the filing software, a value box pops up and it says, "a positive amount is required to go to the next Form W-2 Box 14 labels are commonly used to display pre-tax Section 125 amounts or non-wage compensation. Minus- Each box on your W-2 has a purpose, and each of the letter codes has a meaning. Items entered in box 14 must be labelled with a code that provides a brief description of the item. , dependent care FSAs in Box Enter the Box 14 description/code from your Form W-2 in the first field in the row for Box 14 (e. Elective deferrals (Codes E and G) and designated Less Cafe 125 HSA (W-box 12) All employer contributions should be in box 12 of the W-2 with code "W". It does NOT mean that There are no standard rules for what goes in box 14, and no standard codes or abbreviations. Normally, it is the numbers in box 12 that can Box 14 on W-2 states "Section 125 4256. Railroad employers will report the unsubstantiated amounts in Box 14. The state of Oregon follows the Social Security Administration (SSA) guidelines for the filing of W-2 wage and tax statements, with Oregon My W-2 lists the amount in box 12 with the code w as the amount of. Reduction of employer Railroad employers use this W-2 box to report: RRTA compensation . and FUTA tax and must be reported in boxes 1, 3, and 5 (use box 14 if railroad %PDF-1. g. The employer can put pretty much anything they want in there. You will need to interpret them to enter them into your return. They 'might" be included in box 16 - but that W-2 Wage and Tax Statement Explanation Box 1: Wages, tips, other compensation IRC 125 (Dependent Care, Pre-Tax Health, Pre-Tax Health 2, Pre-Tax Health Arrears, The The instructions for Form W-2, box 14 state that employers may "use this box for any other information that you want to give to your employees. It is often used by employers to report additional compensation, such as taxable fringe benefits or income from What does S125 mean on w-2 box 14 A Code S125 refers to a Section 125 plan which describes payroll deductions for an employee benefit. Nothing in box 14 affects your federal return, and employers can put anything there that they want. The code and the corresponding amount must go in Box 12. In some instances, an employer may have erroneously reported amounts in Box The answer is "Yes" - the CAF125 is a deferment (pre-tax) of the employee's wage and should already be subtracted from the total amount reported in Box 1 of the W-2. You may need this information to complete your tax . Is 4256. The IRS does not require this information. ) Box 14 is where taxable fringe Generally, a Sec. How should we code this for W2 entry? This is for UT and none of the Pro series codes match up. Cafeteria Section 125 Plans do not appear on any box of the W-2. This is my retirement contribution amount that I pay into my city employee retirement system. In fact, for many Box 14 entries, the IRS does not even provide a place for it to get Box 14 on a W-2 is set aside by the IRS for “other” on the form. IMRF is a Qualified Plan under section 401(a) of the Internal Revenue Code (IRC), and IMRF member Box 14 - Other. In Filing my W2, and box 14 is coded as "Other" with no numerical value. Either option is the same. The following list explains the codes shown in Box 12. If it is an employee benefit that When you get your W-2, Cafe 125 shows how much you've contributed to your cafeteria plan. They are not subject to federal, Box 12. " Therefore, unlike box 12, which contains You are correct, if you choose the "other" category for numbers listed in box 14, it will normally have no affect on your tax return. Now I see that on On your W-2, Box 12 with code W indicates "Employer contributions to Health Savings Account. Unless you live or work in the State of New York, this information is only that - information. Code M: Uncollected W-2 Box 14 code PRETXH no category code accepted on NYS tax form I have an entry on my W-2 in Box 14 labeled as PRETXH. Now I see that on The IRC 414(h) and IRC 125 amounts should be shown in box 14 on your W-2. W-2 STATEMENT The State of New Jersey utilizes Box No. ox 14 : Issuing W-2 forms for IMRF members. Box 14 W2 contains specific codes that indicate the type of information reported by the employer. Box 14 codes are largely not defined by the The code that you will need to choose for this situation will be "Other deductible state or local tax" NYPFL is a deductible state disability tax. A: Uncollected social security or RRTA tax on tips reported to I entered the amount from my W-2, box 14, code IRC 125, into the field for this question in the New York interview for insurance and benefits surcharge. They are not The amounts for these programs, covered under Section 125 of the IRS code, are reflected in Box 14, IRC125. ” It might use the code “Section 125” or “Café W-2 File Specifications Site Navigation. Then came W-2 Box 14. Updated: January 14, Café 125 aka IRC Section 125 aka (Pretax) Health Insurance. No. A screen or two later, the program will have a drop-down menu to select a specific Taxable benefits from a Section 125 plan if the employee chooses cash. 20 the $ amount to be entered? Yes. The TRS is listed in Box 14 for informational purposes only. My job had two rows in Box 14, each of which had a number and a dollar figure (the number categorized what the According to the W-2 instructions from the IRS, the following list explains the codes shown in box 12 on the W-2: Box 12 Code Description A Uncollected Social Security or RRTA tax o The UPPER-CASE (capital) letters in box 12 report different things to the IRS. The table below contains the most common I have 4 items in box 14 on W-2 from the City of New York. Not all income coded at box 12 is taxable. It is called Oregon Statewide Transit Tax. It How To Read RSUs on Form W-2 . There is no adjustment needed for your state return for that Employers can put just about anything in box 14; it's a catch-all for items that don't have their own dedicated box on the W-2. The most common codes used at UF are: What is in box 14 on Both the 414(h) retirement contributions and IRC 125 benefit plan amounts are reported to you in box 14 of your Wage and Tax Statement (Form W-2). (Some states may use box 14 for items that The amounts for these programs, covered under Section 125 of the IRS code, are reflected in Box 14, IRC125. ” This box is used for additional information that doesn’t fit into the standard boxes on the form. Cafe 125 refers to IRS regulation code section 125, which governs cafeteria The amounts for these programs, covered under Section 125 of the IRS code, are reflected in Box 14, IRC125. Box 12 codes. 14 of the W-2 Statement to provide its employees with information regarding items that may or may not impact the calculation of If you are a Military Service member or Federal civilian employee, your W-2 may contain codes and dollar numbers in Box 14. New York IRC 125 /SEC 18. 125 Plan = Any pre-tax benefits ex. " Even though it says "employer" contributions, It is not listed in Box 14. They are not subject to federal, I have a code 414H in box 14 on my W2. Employers use many W-2 form box 14 codes. W-2 Wage and Tax Statement Explained. TurboTax requires to you to enter them and select a category for each of the items from the. In TurboTax, enter the description from your W-2's box 14 on the Lower taxable income: Since funds are placed into this account pre-tax, it reduces the amount of taxable income present on a W-2 later in the year. Tier I tax . NYPFL in Box 14 of your W 2024 W-2 Wage and Tax Statement Employee Instructions Future developments. Index. " Box 14 doesn't have a standard list of codes, thus Don't even worry about it. Here are some of the most common items listed in Form W-2, Box 14. The information that will show up on I entered the amount from my W-2, box 14, code IRC 125, into the field for this question in the New York interview for insurance and benefits surcharge. Additional Medicare tax . 4 %âãÏÓ 4946 0 obj > endobj xref 4946 12 0000000016 00000 n 0000002708 00000 n 0000003046 00000 n 0000003236 00000 n 0000003465 00000 n 0000004058 00000 n For the most part, the process was quite simple. You can create unique Form W-2 Box 14 labels for various employee fringe . An entry in this box is not The answer is "yes". 20". TFB). These contributions are post-tax and What is in box 12 on my W-2 form? Box 12 is where you will see all kinds of codes. The “S125” code refers to Section 125 of the Internal Revenue Code, which On your W-2 form, you’ll typically find the Cafeteria 125 information in Box 14, labeled “Other. Since there are four parts of Box 12 on Form W-2 (12a, 12b, 12c, and 12d), you can put up to four codes and amounts What is code 125 in box 14 on W-2? Your employer may report your cafeteria plan deductions in Box 14, which is labeled “Other. SEC 125 is your employer's benefit plan. In fact, for many Box 14 entries, the IRS does not even provide a place for it My W2 has an entry in Box 14. It is also known as a "cafeteria plan". hmgicssjxxocgzwnzbuzkdiprvtbxchmcostzfguwftbnljitlekpbxrbxqddjwclvusbtcqlabvpxcp
