W2 Other Box - IRC 414 (H) Plans

[Yardley CPA]

Is anyone seeing contributions on a W2 to a IRC 414 (H) plan?  In reading about it, it's similar to a 401K.  In my specific situation of a MFJ client, it is included on the W2 in Box 14 Other.  Should this be documented anywhere on the W2 entry screen?  There is no drop down for a 414 (H).  Thanks! 

[michaelmars]

i don't use atx anymore but if i recall from years ago, you had to enter it on the state side.  Each state treats it differently, for example its taxable income for NY so gets added back on the IT-201.

[Yardley CPA]

Just now, michaelmars said:

i don't use atx anymore but if i recall from years ago, you had to enter it on the state side.  Each state treats it differently, for example its taxable income for NY so gets added back on the IT-201.

Thanks, Michael.  The amount is included in the taxable wages for the State. I was curious more from a Federal end.  

[Lion EA]

Public defined-contribution pension, like a 401(b), for federal purposes. As Michael said, states treat it differently. NJ adds it back to income, also.

[Patrick Michael]

In NY these contributions have to be added back into NY income.  But then you do not pay NY income tax on any the distributions after you retire.  Not a bad deal.  

 

[Yardley CPA]

thanks to all who responded.  I didn't know if the contribution to the 414 h resulted in any type of saver credit on the federal return.  That's why I was wondering if there was a field to input the amount on the W2 input screen or on the 1040 itself.  But I believe the 414 h contribution is considered an employer contribution, so I probably answered my own question. 

[Lion EA]

I agree with you.