Two steps to the 414h:
Federal: Box 14 for the 414h requires you to select the correct dropdown when entering the w2
State: Select subject to tax or tax exempt. If you are not on the taxable list, select exempt. If you are unsure, contact your payroll department/ employer.
The following 414(h) retirement contributions shown on federal form W-2, Wage and Tax Statement, are taxable by New York State.
- A member of the New York State and Local Retirement systems, which include the New York State Employees' Retirement System and the New York State Police and Fire Retirement System.
- A member of the New York State Teachers' Retirement System.
- An employee of the State or City University of New York who belongs to the Optional Retirement Program.
- A member of the New York City Employees' Retirement System, the New York City Teachers' Retirement System, the New York City Board of Education Retirement System, the New York City Police Pension Fund, or the New York City Fire Department Pension Fund.
- A member of the Manhattan and Bronx Surface Transit Operating Authority (MABSTOA).
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