Code Z in box 12 is income from a 409A on a nonqualified deferred compensation plan. This is money that is deferred from your income and invested in a plan that is non-qualified, that is a plan that doesn't meet the rules to be tax deferred like a 401(k) plan.
The deferred amount is still taxable and doesn't qualify you for any deductions or credits, so it doesn't affect the amount of your taxes.
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