1. You probably have deferred retirement plan, such as 401(k). This potion of your income does not subject to income tax withholding now but you have to pay when you withdraw from it. But Social security does NOT allow a break. Therefore, SS tax still withheld.
2. If you have to file NYS income tax, this 414h is an addition to your federal taxable income to come up with your NYS taxable income. Just look for 414H under Addition section of your NYS tax form and enter accordingly.
2. If you have to file NYS income tax, this 414h is an addition to your federal taxable income to come up with your NYS taxable income. Just look for 414H under Addition section of your NYS tax form and enter accordingly.
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