W-2 Box 14 - Section 125 Plan

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  • Tax Sleuth
    Senior Member
    • Aug 2012
    • 123
    #1

    W-2 Box 14 - Section 125 Plan

    Is an amount shown in Box 14 of a Form W-2 for a Section 125 plan potentially deductible for the line regarding medical expenses on the NJ-1040? How does this work?
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    • Val_Matt
      Junior Member
      • Dec 2014
      • 3
      #2
      W-2 Box 14 - Section 125 Plan

      Yes.
      Usually Sec-125 amount is not included in federal wages but is included in New Jersey wages so it is deductible, subject to the 2% gross income limitation. Reconcile the W-2 to be sure.

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