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Retirement tax questions
It doesn't matter what you put in the description box, TurboTax will know what to do with the information based on the category selection of RR Retirement Compensation. You can put RR compensation in the description field. And you do not need to add anything to the box 1 wages for that entry. Entering your taxable income from Box 1 is all that is needed to remove any errors. It is true that the amounts in Box 12 with code DD (Cost of employer-sponsored health coverage) are not taxable, but you don't need to add it any Box 14 items. Code DD amounts are for informational purposes only — they don't affect the numbers in your tax return. @ABerg2
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January 25, 2021
2:58 PM