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It is not a deduction, it is an exclusion from income. The result is the same. If you entered the W-2 correctly, it should be excluded as your employer should have already excluded it from taxable wages on your W-2.
It is not a deduction, it is an exclusion from income. The result is the same. If you entered the W-2 correctly, it should be excluded as your employer should have already excluded it from taxable wages on your W-2.
I understand transitchex is non-taxable, but there are two NY tax exempt categories in 14DD and I'm not sure which to use.
If the amount is for TransitCheck Commuter benefits, the code for Box 14 on your W-2 might show as IRC132. There is no adjustment needed for your state return for that amount so you can leave Box 14 blank or select the last option "Other (not classified)
NY IRC 414 (h) is for reporting public employee retirement contributions and may need to be added to the state income
NY 125 SEC 18 is for Flexible Spending Accounts and may need to be added to state income.
Hi, it do not say irc 132 or IRC 125, it just saying transit pre tax, idk it is 132 or 125, what do you think
You can just choose "Other" for a category for box 14 on your W-2. This benefit has been paid to you "pre-tax" which means you didn't pay tax on it. And you don't have to. It's not part of your income in box 1 of your W-2.
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