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A TurboTax error(?): W-2 box 11 nonqualified distribution
I received a distribution from a nonqualified plan in tax year 2022. The W-2 shows the same value in box 1 (wages/compensation) and box 11 (nonqualified plans) as well as a value for federal taxes withheld. I entered this data into TurboTax manually. When I examine page 1 of Form 1040 in TurboTax , I see $0 on line 1a (total amount from wages, W-2) . The distribution is for deferred compensation. I thought the IRS considers this taxable income in the year it is distributed, but that's not how it shows in TurboTax. If it's there, I can't find where I might have answered a question, or a check box, incorrectly that has caused line 1a to be a zero. Is TurboTax doing the proper calculations?
‎February 3, 2023
8:00 AM