IT-201 nonqualified deferred compensation question

adelu23 · ‎March 31, 2021

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 · ‎April 5, 2021

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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View solution in original post

DanielV01 · ‎April 5, 2021

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"

adelu23 · ‎April 5, 2021

Thank you so much @DanielV01 !!!

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IT-201 nonqualified deferred compensation question