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Get your taxes done using TurboTax
You do not need to use a workaround. For 2022 the proper line for the box 11 amount that is a distribution as deferred compensation is schedule 1, line 8t. This is new. The amount will be removed from line 1a so that it is not double taxed.
Having said that, if you leave the amount on line 1a by removing it from box 11 (reported on schedule 1, line 8t), your tax calculations are still the same.
Ultimately the box 11 amount is informational for the Social Security Administration (SSA) to properly allocate for social security calculations. So as long as the amount is taxed properly on your tax forms you are good with the IRS.
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March 27, 2023
5:47 AM
1,410 Views