What is box 14 code s125 for and did it lower my tax refund
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1 Best answer
jerry2000
Alumni
May 31, 2019 7:24:21 PM
Box 14 s125 is for the amount of premiums that you paid tax free under an employer's Section 125 (or Cafeteria) benefits plan. It does not reduce your refund.
3 Replies
jerry2000
Alumni
May 31, 2019 7:24:21 PM
Box 14 s125 is for the amount of premiums that you paid tax free under an employer's Section 125 (or Cafeteria) benefits plan. It does not reduce your refund.
takumsa
New Member
May 17, 2021 7:23:52 PM
But it does reduce your refund on your State taxes. At least for NJ. Pls confirm or correct. Thx.
BillM223
Expert Alumni
May 17, 2021 8:41:52 PM
"But it does reduce your refund on your State taxes"
Yes, contributions to section 125 cafeteria plans are not deductible in New Jersey. Since these amounts were removed from your federal income, they have to be added back to New Jersey income.