Question

Why isn't TurboTax accounting for the IRC 125 information I input into my taxes? Every year I get a notice from NY State saying I enter it incorrectly and have to pay.

Forum|Forum|4 years ago
April 18, 2022
1 reply
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I always end up owing a few hundred dollars. And believe me, I enter this information into the software when asked to account for all amounts in box 14 of my W2. This is annoying.

TurboTax Deluxe Online

R

RaifH

If you live in New York City, select New York IRC 125/SEC 18 Subject to NY Tax from the Box 14 Category drop-down menu. These earnings will automatically be added to your taxable New York wages. They are exempt from federal taxation. For more information, see here.