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February 1, 2023
Question

Should I enter "other" in box 14?

  • February 1, 2023
  • 1 reply
  • 0 views
I also have a 125 before the amount

1 reply

February 1, 2023

Section 125 (cafeteria plan) refers to an employee benefit plan established under the Internal Revenue Code by your employer.

 

This IRS website states:

 

A section 125 plan is the only means by which an employer can offer employees a choice between taxable and nontaxable benefits without the choice causing the benefits to become taxable.

 

This is a memorandum entry and entering this data on does not change anything in your tax return.

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