W-2 Box 14 STRS/S

[Dualcali]

I am unsure how to input this item from box 14 of my w-2. I am a teacher in California and my w-2 shows STRS/S. I don't know the correct code and description.

[DanielV01]

If it doesn't match with any of the drop-down codes in Box 14 in TurboTax, then put other.  SDI or VDI entries matter, but many other Box 14 codes have no real effect on the tax return.

[Dualcali]

1) When I select "other" my taxes owed goes up by ~$500 

2) The description in box 14 of my W-2 is "STRS/S" and turbox isn't taking that. It highlights the description box to change that description. It keeps taking me back to change it every time I want to finalize and submit my taxes. 

[DanielV01]

I stand corrected.  That code is your contribution to the state's retirement system, which is a potential credit.  Look for the Box 14 Code that is related to retirement contributions, so that the information can flow to Form 8880.  

I can't explain why your tax is going up by $500, but see if this changes it.

[Dualcali]

THANK YOU.

[DanielV01]

Glad to help you figure that out.

[edjashop]

I am a California teacher and also have this question. I do not understand which "category" to choose when entering the W-2 Box 14 information so that it reflects this is a retirement contribution.  Your replies last year for this question do not identify the choice from the Category drop down menu. 

Thank you for your help. 

[DaveF1006]

Box 14 Form W-2 is an informational box that does not impact your tax return. Go to the very bottom in that drop-down box and choose (other not classified).

@edjashop 

[obiweiss]

what code do I select?????????????

Box 14 does NOT have a retirement code!!!!!!!!!!

What do I select for STRS/S???????????????????

[PattiF]

If none of the categories apply, scroll to the bottom of the list and choose Other-not on above list.

[geohecTT]

I have the same issue.  I am a California teacher and box 14 identified "STRS/S" which are funds that paid into a retirement plan.   It seems like a reply from TT representative on this question earlier in the post  implied that it was important to identify this as a retirement contribution, so it would flow into the proper category.   It appears that your response to select "Other (not-classified)" will not be properly categorize thousands of dollars paid into this fund. 

I see that Turbotax does have "Massachusetts State or U.S. Retirement System". 

Would this be acceptable to use?

[wpmmhe]

That's a good point. Why is there an entry for Mass but not Cal? However, I tried both Mass and Other, and did not see any difference on my tax, so maybe it inneed does not matter

[Snneff1959]

That doesn’t work for me either. My wife is a California school teacher and there is no category for STRS/S or S(125). Every time I enter those numbers our taxes owed shoots way up. It’s happened the last few years we’ve been married and I have not been able to get an answer. Should a retirement fund be counted as income when we have to wait to receive it until she retires?

[JulieS]

No, retirement contributions are not counted as income on the federal return, but there are a few states who tax these amounts. 

The amount in box 1 of the W-2 form is reduced by the amount that was contributed to the retirement plan, so you are not being taxed on that.

If you don't have a specific description that matches the drop down, select "Other". 

If the amount is definitely a retirement contribution, you can enter it as such to get credit for the Retirement Savings Contribution credit. Do not enter it as an IRA contribution.

1. Select Federal from the left side menu.
2. Select Deductions and Credits toward the upper left. 
3. Expand the list and scroll down to Retirement and Investments.
4. Expand the section and click Start or Revisit to the right of Retirement Savings Contribution Credit.
5. Click Continue. 
6. On the screen, Let us know if you made any additional contributions to qualified retirement accounts, enter the amount in Additional contributions.
7. Click Continue and answer the remaining questions in the section. 

[rf_ee]

The deductions method does not allow supplemental retirement savings to be entered.

Can we call it a tax deductible employment expense?