tbanks
Level 2
12-07-2019
01:36 AM
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Best Answer Click here
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sjrcpa
Level 15
12-07-2019
01:36 AM
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What state? Some states tax things such as 401(k) deferrals and 125 Plan contributions.
Ex-AllStar
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Camp1040
Level 10
12-07-2019
01:36 AM
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Double check your entries on the W-2 worksheet.....look at your line 12a above, could just be a typo.
Accountant-Man
Level 13
12-07-2019
01:36 AM
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You mean box 3 & 5 are $45,457.98. Box 2 is fed tax.
** I'm still a champion... of the world! Even without The Lounge.
tbanks
Level 2
12-07-2019
01:36 AM
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Sjrcpa - New Jersey
tbanks
Level 2
12-07-2019
01:36 AM
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Camp1040- that was a typo on my end. $1,482.22
sjrcpa
Level 15
12-07-2019
01:36 AM
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As AM said, NJ taxes the 125 Plan contributions.
Ex-AllStar
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Accountant-Man
Level 13
12-07-2019
01:36 AM
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NJ doesn't tax the 401k deferral, but it does tax 403b deferrals as wages.
NJ taxes the Cafe 125, FSA and HSA contributions as wages. Your client's W2 doesn't report it, but it's there.
PA taxes all compensation as wages, so it doesn't tax IRA and retirement distributions.
Which state are you asking about?
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Skylane
Level 11
12-07-2019
01:36 AM
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What AM said is correct......... frequently, if you have a NJ resident who works in NY the W2 will not tell you the NJ taxable wages but they'll list the Cafe 125, 403b, etc on the W2. You have to know those items are NJ taxable. On the NJ1040 in PS there's a worksheet under line 14 where you can add back the NJ taxable items to the return.
If at first you don’t succeed…..find a workaround
The-Tax-Lady
Level 9
12-07-2019
01:36 AM
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Have the client ask their employer that question. It may be an error.
The-Tax-Lady
Level 9
12-07-2019
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The DD code is the total paid for insurance by the employer and employee.
Accountant-Man
Level 13
12-07-2019
01:36 AM
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DD is only employer paid insurance, not employee's.
** I'm still a champion... of the world! Even without The Lounge.