When entering W2 information for 2018, there is no category for "NY FLI", which appears in Box 14 of my W2. Should the option for "Other - not on above list" be used, or will a category for "NY FLI" be added at some point with a software update?
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NY FLI is for paid family leave - a program similar to state disability insurance. This tax is federally deductible (though with tax reform changes it will be harder to see a tax benefit). You should choose "Other mandatory deductible state or local tax not on above list" - see screenshot below. Its a relatively new tax so its possible at some point in the future it may be added to the list similar to NJ FLI but there is no need to wait for an update as the tax treatment is the same with the above selection.
This doesn't appear on the 2020 version-- which is the best option now? Thanks!
will this be answered at some point?
It may be added at some point but for now, choose "Other mandatory deductible state or local tax not on above list" as AnthonyC suggests.
THANK YOU! That was way too difficult and time consuming to confirm online. SO appreciate your answer.
When I was doing my tax return it wouldn't let me enter box 14 Which is NY-FLI or NY-SDI or the Money amounts. Does this matter?
It depends. These deductions may be deductible as a state and local tax if you itemize your deductions on Schedule A (Itemized Deductions). Please keep in mind that these items would be on Line 5a and combined with your other state and local taxes, which is capped at $10,000 per year. If you do not itemize, then the input of these items will not affect your tax return.
Generally, the Box 14 items of your W-2 are for informational purposes.
How should NY FLI be categorized in Box 14 when entering information for W2?
NY FLI stands for Family Leave Insurance. It should be reported under Other deductible state or local tax because it is deductible as a state and local tax if you itemize your deductions on Schedule A (Itemized Deductions).
@angelamq2017
is NY FLI the same as NY PFL? its listed on my w2 form box14 (other)
NY FLI, family leave insurance, and PFL, paid family leave, are both required state taxes and deductible. Enter box 14 description, amount, and choose the option, Other deductible state or local tax.
How should NY-FLI inbox 14 of your tax return
The NY FLI item should be entered in the W2 topic. For box 14 use the dropdown category "Other Deductible state or local tax" as this is itemized deduction on Schedule A should your itemized deductions exceed your standard deduction.
**UPDATE** In 2022 Turbo Tax, you can now chose "New York paid family leave tax" in the dropdown menu.
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