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Entering 414H and IRC125 information on NY state returns

🔍 Entering 414H and IRC125 information on NY state returns

Some examples of Box 14 information and correct codes to use for electronic filing are listed below. In some instances, an employer may have erroneously reported amounts in Box 12 that should have been reported in Box 14.

If the amounts reported on the electronically filed Form W-2 and Form IT-201 disagree, the processing of the return will be delayed and may cause the return to be rejected. Preparers must enter Public Employee 414(h) Retirement Contributions and New York City IRC125 Flexible Benefits Program amounts correctly using the assigned codes.

⚠️ Before You Begin

Make sure you:

Use the correct assigned codes for electronic filing of retirement contributions and flexible benefits.
Enter the amounts in the correct place (Box 14). In some instances, amounts may have been erroneously reported in Box 12 instead of Box 14.
Ensure the amounts reported on the electronically filed Form W-2 and Form IT-201 agree to avoid delays or rejection.

📊 Codes for Electronic Filing of Retirement Contributions and Flexible Benefits

Step 1: Enter 414(h) retirement contribution code (414HSUB)

Use this when you need to report 414(h) retirement contributions made by eligible members/employees.

414HSUB 414(h) - Retirement contributions made by:

(1) a member of the New York State and Local Retirement Systems, which include the New York State Employees' Retirement System and the New York State Police and Fire Retirement System or
(2) a member of the New York state Teachers' Retirement System or
(3) an employee of the State or City University of New York who belongs to the Optional Retirement Program or
(4) a member of the New York City Employees' Retirement System; the New York Teachers' Retirement System; the New York City Board of Education Retirement System; the New York City Police Pension Fund or the New York City Fire Department Pension Fund.
(5) a member of the Manhattan and Bronx Surface Transit Operating Authority (MABSTOA) Pension Fund.

Step 2: Enter IRC125 flexible benefits program code (IRC125S)

Use this when you need to report amounts deducted or deferred from your salary under a flexible benefits program established by the City of New York or certain other New York City employers.

IRC125S - Amounts deducted or deferred from your salary under a flexible benefits program established by the City of New York or certain other New York City employers such as:

(1) City University of New York
(2) New York City Health and Hospitals Corporation
(3) New York City Transit Authority
(4) New York City Housing Authority
(5) New York City Off-Track Betting Corporation
6) New York City Board of Education
(7) New York City School Construction Authority
(8) New York City Rehabilitation Mortgage Insurance Corporation
(9) Manhattan and Bronx Surface Transit Operating Authority
(10) Staten Island Rapid Transit Authority

Step 3: Enter IRC125N code for flexible benefits not subject to NY state tax

Use this when the flexible benefits are not subject to New York state tax.

IRC125N IRC125- New York City Flexible Benefits NOT SUBJECT to New York state tax.

❌ Troubleshooting: Avoid delays or rejection

📞 Still Need Help?

If you are having trouble, contact our support team:

Phone: 1-800-516-9442

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Tags: state,form