OK TP w-2 shows a difference in wages box1 to ss wages in box 3. The difference in these two are coded 414H in box 14. This is a county school w-2. I think not qualified for the 8880 form. Am I wrong?
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414 h
Contributions to 414H retirement plans reduce the amount of your pay that counts as taxable income for that year. For example, if your base salary is $50,000 but $4,000 is withheld for 414H contributions, you only report $46,000 of taxable income that year. However, 414H contributions are treated as employer contributions, not employee contributions: They are already taken out of the taxable income shown on your W-2, so you don't claim a deduction for them on your taxes. In addition, they do not qualify for the Retirement Savings Credit.
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