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New Member
posted May 31, 2019 9:56:37 PM

S125 in NY Taxable or not in NY?

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1 Best answer
Expert Alumni
May 31, 2019 9:56:39 PM

Not taxable in most cases. Your federal and NY wages already reflect the deferral for Health Insurance. If your employer listed this in Box 14 or other, that is informational only unless-

It needs to be added back for employees of the City of New York. If you are employed by New York City, choose the Subject to Tax dropdown.

2 Replies
Expert Alumni
May 31, 2019 9:56:39 PM

Not taxable in most cases. Your federal and NY wages already reflect the deferral for Health Insurance. If your employer listed this in Box 14 or other, that is informational only unless-

It needs to be added back for employees of the City of New York. If you are employed by New York City, choose the Subject to Tax dropdown.

Not applicable
May 31, 2019 9:56:40 PM

What if the employee has two jobs, two W2s?

Main job is NOT employment by NYC, but has Sec125 listed in Box 14. Health Insurance is obtained through this employer.

A secondary job IS with NYC and has no Sec125 listing on its W2.

Is the Sec125 listing from the NON-NYC job subject to tax?