Question

What category applies to my 1rc125 and fringe benefit?

Forum|Forum|5 years ago
May 17, 2021
1 reply
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what category is irc125

TurboTax Deluxe Online

Section 125 fringe benefits are pre-tax deductions such as a Flexible Spending Account for out-of-pocket medical expenses and childcare expenses, life insurance and commuter reimbursement.

These benefits are pre-tax so they are not deductible.

If you have a SEC 125 amount in Box 14 of your W-2 use Other (not classified) unless you live in New York. If so, use SEC 125/SEC 18 Subject to NY tax or NY tax exempt

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