Hi esthy18!
It sounds like this may be an amount included in box 14 of your W-2. This is a box where an employer can give you any information they want. Unfortunately, this box is not standardized so often the only person the codes make any sense to are the employer.
While I am unable to decipher "PXCMP" I can tell you "EE" usually means it was paid by the employee. "ER" is normally used for employer. "PRE" generally means pre-tax. Since these are just industry norms and not set in stone anywhere your employer is not bound to use them in this sense.
The best way to decipher this box is to just ask your employer. The next best option is to look at your pay stub. You should see something similar to this on your pay stub each payday. Often times pay stubs will include a longer, more descriptive, term for these deductions.
If the deduction was taken from your pay on a pre-tax basis then your box 1 wages will already be reduced by the amount. This is great news and means you do not need to do anything else to get a deduction for the amounts.
If the deduction was not taken from your pay on a pre-tax basis then you will need to determine exactly what the deduction was for to tell if you can use it as a deduction on your taxes. You can used the 3rd column with the drop down menu on box 14 of the W-2 input screen in Turbo Tax to classify the amount. If it is not listed in the drop down menu you can use "Other - not listed" but you will need to manually enter the amount elsewhere in Turbo Tax if it is deductible.
I hope this helps. If it does not adequately address your
concern, please reply to this post so that I may continue to assist you.
Thank you for using Turbo Tax!
