That's short for "New York Source Income". I assume that you are not a resident of New York, meaning you'll be filing a non-resident tax return for that state, and only pay NY state taxes on that income. Furthermore, I would expect that income to be reported in boxes 16, 17 and 18 of your W-2, if you are a W-2 employee.
Hi Carl, no it is only mentioned in box 14 on the W2. Also what category should we put it under on turbotax because i think i have already paid tax at source on that income
You will want to choose Other- not classified. TurboTax uses specific code classifications if they can identify and be used in other parts of the tax return. In general Box 14 can be used by the employer to report anything that might be useful to the employee, but in some cases this information is not required like in Box 12 (or more accurately required by the IRS in Box 12- the Box 14 information is sometimes required by the states to provide the supplemental information.)
The New York Source Income amount is useful when you are preparing the New York state return- I am guessing you worked in more than one state. Because New York requires employers to use Box 1 amount for the Box 16 State Wages, when it comes time to allocate the income in the state section, employees often have to figure this out themselves. You will want to use the amount as New York income in the state section. @ruchitasharma4-g