what should i list for NYC 1127.2 withholding?

[Steve987]

what is NYC 1127.2 withholding

[rjs]

For NYC 1127.2 withholding in box 14 of your W-2 select the category "Other (not classified)." TurboTax will not automatically enter it on your NYC-1127 form. You will have to enter the amount of withholding again when you prepare your NYC-1127 in the New York interview.

NYC 1127.2 withholding is a payment towards the amount you have to pay on your NYC-1127 return, like the withholding for federal and state income tax. The Section 1127 payment is a payment you have to make as a non-resident employee of the City of New York. You can read more about it at this link on the NYC Department of Finance web site.

[Steve987]

Thank you. I assume this is for the box 14 "1127 txs" entry. What do I do with the "1127 wgs" amount?

[MayaD]

Enter the amount in box 14 and for category select "other deductible state of local tax".

In your state return, continue to the screen Take a look at New York City credits and taxes ,scroll down to New York City Employment Taxes and select  start next to NYC Nonresident Employees Tax (NYC-1127).  

[rjs]

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@Steve987 wrote:

What do I do with the "1127 wgs" amount?

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For "1127 Wgs" select "Wages for SDI, VPDI, TDI, UI, etc." The "1127 Wgs" amount is just informational. It does not affect your tax returns or your NYC-1127.

[Steve987]

TY.

Which explanation code should I use then?

There is a generic "other, not classified" I could use, I suppose.

[rjs]

When you say "explanation code" do you mean what TurboTax calls the "category"? For 1127 Wgs it's "Wages for SDI, VPDI, TDI, UI, etc." But you can use "Other, not classified" if you prefer. It doesn't matter.

[Steve987]

Thank you. That is what I was looking for!

[Steve987]

Sorry to be a pest -- now unsure what category I should choose for box 14 for the "1127 TXS entry on my W2. TY!

[Steve987]

Oh bother again! Two more questions -- two more entries on my W2 box 14 (I never had a two-page W2 before!)...  What category should i use for "TranFe" ($5.76) and "Transit" ($1268.00)? 

Thank you again!!

[rjs]

The trouble with W-2 box 14 is that the employer can put pretty much anything they want in it. There are no standard rules for what goes in box 14, and no standard codes or abbreviations. So if there is something you don't understand, you have to ask your payroll office what it means.

"Transit" sounds like it might be commuter benefits, in which case the TurboTax category is "Other (not classified)." But that's just my guess. As for "TranFe," I have no idea. Ask the payroll office what they are.