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Payroll FAQs

How are my pre-tax benefit program deductions shown in my W-2?

Tax Deferred Annuity Accounts/Deferred Compensation Plans (TDA/DCP)
Contributions are shown in Box 12 of your W-2. TDA contributions are not subject to income taxes, but they are subject to FICA taxes. As a result, your wages shown for Social Security and Medicare taxes may be greater than wages shown for income taxes.

You file your federal, state, and city tax returns on the lower reported wage amount shown in your W-2 in Boxes 1, 16, and 18. Although your contributions are made through payroll deductions, your year-to-date earnings on your pay statement are not affected.

Contributions are shown in Box 14, IRC414H. Pension contributions are not subject to federal income tax, but are subject to state, city, Social Security, and Medicare taxes. You need to add the pension contribution shown in Box 14 to the reported wage amount.

Only standard pension deductions and certain "buy back" deductions are included in the IRC414H Box. Pension loan deductions are taxable and not included in the IRC414H Box.

The amounts for the TransitBenefit program are covered under Section 132 of the IRS code, and reflected in Box 14, IRC132. The amounts for TransitBenefit are not subject to taxable wages, Social Security, Medicare, state, and city taxes.

Health Insurance Premiums, Dependent Care Assistance Program (DeCAP), and Health Care Flexible Spending Account (HCFSA)
The amounts for these programs, covered under Section 125 of the IRS code, are reflected in Box 14, IRC125. The amount for DeCAP is shown also in Box 10. They are not subject to federal, Social Security, and Medicare taxes. The reduction in earnings shows on your W-2 but not on your pay statement.

The amount in the IRC 125 Box is subject to New York State and City taxes. The NYS income tax instructions directs the income tax filer to report wages as they appear on the W-2 in Box 1 then to add back the amount to arrive at New York State/City taxable wages.

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Eugenio Marķa de Hostos Community College  ·  500 Grand Concourse, Bronx, New York 10451  ·  Phone (718) 518-4444
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