AliciaP1
Expert Alumni

Retirement tax questions

The change in how the deferred income is reported is an IRS change for tax year 2022, not a software change so you will not raise any flags.  

 

Per the IRS' 2022 Form 1040 & Form 1040SR instructions:

Line 1h

Other Earned Income

The following types of income must be included in the total on line 1h.

Strike or lockout benefits (other than bona fide gifts).

Excess elective deferrals. The amount deferred should be shown in box 12 of your Form W-2, and the “Retirement plan” box in box 13 should be checked. If the total amount you (or your spouse if filing jointly) deferred for 2022 under all plans was more than $20,500 (excluding catch-up contributions as explained later), include the excess on line 1h. This limit is (a) $14,000 if you have only SIMPLE plans, or (b) $23,500 for section 403(b) plans if you qualify for the 15-year rule in Pub. 571. Although designated Roth contributions are subject to this limit, don’t include the excess attributable to such contributions on line 1h. They are already included as income in box 1 of your Form W-2. 

 

@fizzywater47

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