Hi,
I have the letters PSFR listed in Box 14. It has an amount that is over $2000 there. Do you know what category I should choose from the drop down menu of Turbo Tax? Thank you! ~Paul
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You can choose Other. It doesn’t affect your tax liability.
No, that box is used by the Payroll Department and can hold almost anything.
SOMETIMES it reports taxes, but usually the people that are subject to these types of tax know they pay them and they know how to report Box 14.
Since the amount is over 2,000, I suggest you ask the employer's payroll department.
It sounds like some sort of Reimbursement, and you might just use the "other" category in the TurboTax program.
Thank you for your help!
Thank you for your time and help!
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