turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

why turbo tax is not taxing my NY pension

Why turbo tax is not taxing my NY pension? Every year I got audited by NYS because my 414h was not taxed. I tried to add my entire income to line 16, and still not taxing my 414h. Please help me.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MayaD
Expert Alumni

why turbo tax is not taxing my NY pension

Members or employees of the following organizations will need to enter 414(h) contributions on Form IT-201, Line 21 or Form IT-203, Line 23:

  • NYS and Local Retirement systems, which include the NYS Employees' Retirement System
  • NYS Teachers' Retirement system
  • State or City University of New York who belongs to the Optional Retirement Program
  • NYC Employees' Retirement System, the NYC Teachers' Retirement System, the NYC Board of Education Retirement System, the NYC Police Pension Fund, or the NYC Fire Department Pension Fund
  • Manhattan and Bronx Surface Transit Operating Authority (MABSTOA) Pension Plan

The amount entered will be added back as income on your New York tax return. 

 

When entering your W-2 box 14, select "NY IRC 414H Subject to NY Tax" 

 

 NYs will tax the contribution when you report it correctly. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question