What form was the income reported on?
Please see this LINK for the treatment of this income.
Independent contractors
A NQDC plan sponsor does, however, have responsibility to report payments of deferred compensation to its independent contractors. A company will report these amounts to their independent contractors on Form 1099-NEC (Nonemployee Compensation) and 1099-MISC (Miscellaneous Income) as discussed below, and the independent contractors in turn must include these on Schedule SE (Self-Employment Tax) of Form 1040 (U.S. Individual Income Tax Return). For tax years beginning in 2020 or later, the deferrals are reported on Form 1099-MISC, box 12.
At this time, the reporting of deferrals is optional. In the year paid, employers report NQDC on Form 1099-NEC, box 1.
These rules are summarized in the table here.
