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Retirement tax questions
Hello, Reporting of non qualified 457b distribution continues to be a problem. Fidelity issues me a W2 for the 457b distributions each year. They include this amount in Box1 (wages and tips), Box 11(Non qualified plans) and Box 16(state wages). When I put in all this information in TurboTax as a second W2, it doubled the amount in Line 8 of 1040 and also in Schedule X of Massachusetts return. This is obviously increasing the taxable amount. I tried deleting the Box 1 amount and including only Box11, but it did the same thing. Please let me know how to correct this. Is TurboTax working on any fix for this ? Thanks
‎February 19, 2024
6:07 AM