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Level 2
Apr 1, 2021 4:41 AM UTC
Solved

IT-201 nonqualified deferred compensation question

Hi!

 

Does anyone know if I should supersede/amend my IT-201 if I accidentally mark D2 incorrectly? D2 asks if I was required to report any nonqualified deferred compensation as required by IRC 457a and I marked it as yes by accident. This does not affect my taxable income amount though .. any advice?

 

 Thanks in advance!

DanielV01
DanielV01Answer
Alumni - Intuit
Apr 6, 2021 12:22 AM UTC

If neither your taxable income nor your tax is affected, don't amend.  However, if the state contacts you with a letter questioning what happened, maintain documentation to show that you marked the corresponding boxes in error and you don't have the deferred compensation as referenced above.

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2 replies

DanielV01
DanielV01Answer
Alumni - Intuit
Apr 6, 2021 12:22 AM UTC

If neither your taxable income nor your tax is affected, don't amend.  However, if the state contacts you with a letter questioning what happened, maintain documentation to show that you marked the corresponding boxes in error and you don't have the deferred compensation as referenced above.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
adelu23Author
Level 2
Apr 6, 2021 1:06 AM UTC

Thank you so much @DanielV01 !!!