Yes, this is cryptic. When I looked at it, I thought it meant street fire, but that clearly doesn't make sense unless you knew me.
In Box 14, STRETIRE (or sometimes ST RETIRE) almost always stands for State Retirement. This code is used to report the amount of money withheld from your paychecks during the year for a state-sponsored retirement plan.
- It is most common for public sector employees, such as teachers, police officers, firefighters, or other state/local government workers.
- Is it a tax? Not exactly. It's a contribution to your pension or retirement fund (like a 403(b) or a state pension system).
- Why is it in Box 14? Box 14 is a "catch-all" area for employers to report info that doesn't have a dedicated box elsewhere. While it's often just for your information, you might need this number for your state tax return, as some states allow you to deduct these contributions depending on the state where you live.
Be sure to enter this information in Box 14 because if your state gives a credit toward a state-sponsored plan, TurboTax will apply it.
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