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#3
02-10-2004, 03:30 AM
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 Re: 414H Taxable or Non Taxable "MArk Ronald" <hmni[at]adelphia.net> wrote: - quote - > Hi my wife is a buffalo public school teacher and i'm doing
The 414H amount is state taxable in NY but not federally,> our taxes this year. > I'm using the taxcut software and in box 14 there is an > amount > "414H $dollar amount" > now in the taxcut software there is an amount and it says > that this amount can be Nontax or taxable. > how do i set that? should i set itto be taxable or > nontaxable. > help! > in what cases would i make it taxable and in what cases > would it be non taxable. > -MArk you will have to over ride on Form 201 if it won't take. bill << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
02-10-2004, 03:11 AM
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| Re: 414H Taxable or Non Taxable "MArk Ronald" <hmni[at]adelphia.net> wrote: - quote - > Hi my wife is a buffalo public school teacher and i'm doing
Ahhhhh, the wonderous world of income tax software, feed a> our taxes this year. > I'm using the taxcut software and in box 14 there is an > amount > "414H $dollar amount" > now in the taxcut software there is an amount and it says > that this amount can be Nontax or taxable. > how do i set that? should i set itto be taxable or > nontaxable. > help! > in what cases would i make it taxable and in what cases > would it be non taxable. cd into a computer and presto, you're an instant tax expert. ..... and "the computer did it, so it must be right" -- <<< Benjamin Yazersky CPA [NJ & NY] > > << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-10-2004, 03:11 AM
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| Re: 414H Taxable or Non Taxable - quote - > I'm using the taxcut software and in box 14 there is an
The 414H amount is the 3% pension contribution that your> amount > "414H $dollar amount" wife is required to make. It is taxable on the NYS return and not taxable on the federal. It gets "added back" on the NYS return on Line 20 of Form IT 201. Will << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-10-2004, 02:52 AM
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| Re: 414H Taxable or Non Taxable - quote - > Hi my wife is a buffalo public school teacher and i'm doing
Not sure how TaxCut handles it, but a NY school system 414H> our taxes this year. > I'm using the taxcut software and in box 14 there is an > amount > "414H $dollar amount" > now in the taxcut software there is an amount and it says > that this amount can be Nontax or taxable. > how do i set that? should i set itto be taxable or > nontaxable. is subject to NY state tax. It is usually coded 414HSUB. Try taxable and see if the forms turn out correctly as follows: On Form 1040, the amount on line 7 should equal the sum of the amounts in box 1 of all your and your wife's W2s. On Form IT-201. the amount of the 414H should appear on line 20. -- Don EA in Upstate NY << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-06-2004, 10:36 AM
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| 414H Taxable or Non Taxable Hi my wife is a buffalo public school teacher and i'm doing our taxes this year. I'm using the taxcut software and in box 14 there is an amount "414H $dollar amount" now in the taxcut software there is an amount and it says that this amount can be Nontax or taxable. how do i set that? should i set itto be taxable or nontaxable. help! in what cases would i make it taxable and in what cases would it be non taxable. -MArk << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 414h, taxable |
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