IF I put in Box 14 it says Tax Def - 314.86 Pretax - 1007.96. Will this auto calculate for taxes when it's Tax deferred or pretax? I'm not seeing changes in tax burden.

I am doing my son's taxes and this is first time that I have ever seen this.

595

Expert Alumni

Apr 4, 2024 11:00:47 AM

Box 14 is primarily used for informational purposes for the receiver. In this instance that is information for your son and is not necessary in order to prepare his tax return.

@tmchargers24

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IF I put in Box 14 it says Tax Def - 314.86 Pretax - 1007.96. Will this auto calculate for taxes when it's Tax deferred or pretax? I'm not seeing changes in tax burden.