What does CAFE mean in Box 14 of W-2?

If Retirement Plan is checked, the amount deferred is listed in Box 14. BOX 14 Other. MS DEF RET – amount of deferred retirement contributions to the State Retirement Plan. CAFÉ PLAN – amount your employer paid on your behalf under an approved Cafeteria Plan. BOX 15 State and Employer’s State ID #

What does CAFE mean on W-2?

Cafe 125 on a W-2 tax form refers to a cafeteria plan, in which an employer offers workers a choice between various job benefits. These benefits can include medical insurance, life insurance, adoption assistance, assistance with care for dependent elderly relatives, extra paid vacation days and similar.

How is cafeteria plan reported on W-2?

Your employer may report your cafeteria plan deductions in Box 14, which is labeled “Other.” It might use the code “Section 125” or “Café 125,” and then state your pretax payments. This data is optional and can clear up any confusion you have about the amount in Box 1.

What is the amount in box 14 on W-2?

During 2020, the Families First Coronavirus Response Act required employers to offer leave to employees quarantined because of the virus. If you used any of this leave it will show in box 14 as: SICK LV WAGES SBJT TO THE $511/DAY LIMIT (or similar for the other leave types). before reported on the W-2.

What is code s125 in box 14 on w2?

Box 14 s125 is for the amount of premiums that you paid tax free under an employer’s Section 125 (or Cafeteria) benefits plan.

What is 414h in box 14 on w2?

Box 14 of the W-2 statement likely has a dollar amount listed with the 414(h). This is the number of funds that were contributed to the retirement plan. This means that they are removed from the paycheck and placed in the special retirement savings account prior to taxes being assessed.

Is Cafe 125 deductible?

No. It is also known as a “cafeteria plan”. Usually, what is reported there is your medical insurance premiums that are paid with pre-tax income. They are not taxed and are not included in your W-2 Box 1 wages so you can not deduct them as medical expenses.

How do I use Box 14 on TurboTax?

In TurboTax, enter the description from your W-2’s box 14 on the first field in the row. Enter the dollar amount and select the correct tax category that goes with that description. If none of the categories apply, scroll to the bottom of the list and choose Other–not on above list.

What is Box 14 on w2 414h?

Box 14 of the W-2 statement likely has a dollar amount listed with the 414(h). This is the number of funds that were contributed to the retirement plan. The 414(h) funds are not taxable.

Do I have to report Box 14 on my taxes?

Generally, the amount in Box 14 is for informational purposes only; however, some employers use Box 14 to report amounts that should be entered elsewhere on your return. Note. If you have questions regarding the information reported in Box 14, contact the employer that issued the W-2.

What does pre tax in Box 14 mean?

“Pre-tax” expenses means that they were removed from your income (from Wages). You can’t deduct things that were never in your income in the first place, because it already got done when they were removed from Wages.

What is box 14 on my W-2 for?

Employers use Box 14 on Form W-2 to provide other information to employees . Generally, the amount in Box 14 is for informational purposes only. However, some employers use Box 14 to report amounts that should be entered on your employee’s personal tax returns.

What are box 14 codes?

Box 14 is where taxable fringe benefits are summarized, but it does also include a documentation of several Non- Taxable items (i.e., via pre-tax dollars), such as: code K (non-taxable dental/vision deductions); code V (non-taxable health benefits); code Y (non-taxable flexible spending accounts [FSA]).

What is Cafe on W2?