For years I've been receiving a W-2 for annual distribution from a non-qualified plan and it gets picked by TT as wages on line 1a of 1040. On my W-2 the amount shows up in both Line 1 and Line 11. This year, there's a new question in TT that asks the question that I have cut & paste at bottom of this post.
If I answer "yes" (which is correct), the amount is not included in income on my 1040. If I answer "no" which is incorrect, the amount IS included in income. It looks like I have to answer the question incorrectly to get the right result on my 1040? Here's the question:
Did you take money out of your nonqualified pension plan?
We just need to check whether the $xxxx in box 11 is money you contributed to your plan, or if it's money you took out of your plan.
Yes, I took this money out of my nonqualified or Section 457 plan.
No, this is money I contributed to my nonqualified or Section 457 plan.
