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nayatig
New Member

In box 14 I have a code, along with a dollar amount. The code is "414H" Does anyone know what this code means?

Is the code what I enter under "Description" on my tax form?
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1 Reply
DMarkM1
Expert Alumni

In box 14 I have a code, along with a dollar amount. The code is "414H" Does anyone know what this code means?

Yes, you can enter 414(h) in the description box and the amount listed, in the amount box.  If you are member of one of the organizations listed below you will select "NY IRC 414(h) Subj to NY tax" in the box 14 dropdown.  This will add the amount as an addition to your NY taxable income.  Here is the NY reference.

 

If you are not a member of the below organizations select the "NY IRC 414(h) Exempt" option from the box 14 list.

 

  • NYS and Local Retirement systems, which include the NYS Employees' Retirement System
  • NYS Teachers' Retirement system
  • State or City University of New York who belongs to the Optional Retirement Program
  • NYC Employees' Retirement System, the NYC Teachers' Retirement System, the NYC Board of Education Retirement System, the NYC Police Pension Fund, or the NYC Fire Department Pension Fund
  • Manhattan and Bronx Surface Transit Operating Authority (MABSTOA) Pension Plan
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