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I have a client who has an amount or a Cafeteria Plan listed in box 14 of the W2. This amount was not deducted from taxable wages, so trying to determine if this amount could be deductible on the return.
125 plans are pretax for both FIT and FICA. Unless the W-2 is in error, the taxable will be less than the final paystub by the amount of the 125 for both FIT and FICA wages.
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