FAQs about Parking and Transit Plans
What is the maximum monthly amount that I may contribute pre-tax to a parking plan?
The monthly maximum is $315 for 2024.
What is the maximum monthly amount that I may contribute pre-tax for a transit pass?
The monthly maximum is $315.00 for 2024.
Should I be concerned about "Use It Or Lose It" with a parking or transit Plan?
Is it possible to have the maximum deducted for parking and the maximum deducted for transit expenses each month?
What is a qualified parking expense?
What happens if I terminate my participation in the Commuter Plan and have a balance remaining on my account?
When may I make an election change to my parking or transit plan?
How do I file a claim?
If you pay a parking garage or lot, you will need to obtain a receipt from the garage. If you pay a monthly fee, you may submit your receipt at any time during the month. However, your receipt cannot be entered into our system until the first of the month for which you have paid. For example, if you pay for December parking in the month of November, you may submit the claim in November, but it will not be entered into our system until December 1st. Your receipt may be in the form of a canceled check, credit card receipt or statement from the garage that the expense has been incurred. Transit plans are designated as debit card use only (no claim forms) per IRS Regulations.
My Employer pays our building for a set number of parking spaces and then charges me each month for the cost of my space. How can I take advantage of this expense on a pre-tax basis?
How will I use my transit card with the new OMNY system?
Currently you can use your transit card to purchase OMNY cards from any participating retail or MTA vending machines. Once the OMNY card is purchased, you can add it to your smartphone’s digital wallet to enable ‘Tap and Go’. Keep in mind that MetroCards may continue to be used until they are discontinued in early 2024. Visit omny.info for more information.