My employer reimburses half the cost of my monthly public transit ticket to get to the office. The reimbursement is not on my W2 and is less than $100 per month. I pay for the ticket with after tax dollars and receive the reimbursement after submitting the receipt. Is this taxable income or does it qualify as a tax exempt fringe benefit?
If it is taxable, in Turbotax do I put it under Less Common Income>Miscellaneous Income>Other income not already reported on a Form W-2?
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No, your employer reimbursed public transit ticket payment is not taxable. It is considered a qualified transportation benefit and is not included in your income and is not taxable.
Please read this IRS information at the link provided above.
No, your employer reimbursed public transit ticket payment is not taxable. It is considered a qualified transportation benefit and is not included in your income and is not taxable.
Please read this IRS information at the link provided above.
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