W-2, Box 14 Entry for New York IRC 414(h) Does Not Offer Option to Select Taxable or Tax Exempt
When entering your New York IRC 414(h) retirement contribution in Box 14 of your W-2, there is no option to select if this amount is either subject to income tax or tax-exempt.
Explanation
This is by design. TurboTax will automatically determine if the 414(h) contribution amount you entered is taxable or tax-exempt, based on the Employer's Federal Identification Number (EIN).
In accordance with the rules from the New York Department of Taxation and Finance, 414(h) contribution amounts are tax-exempt for certain EINs only.
If the EIN you have is not one of the specifc EINs used to determine tax-exempt contribution amounts, entering 414H in Box 14 will cause the associated amount to be taxable on the New York state tax return, provided there are only New York state wages on the W-2.