DaveF1006
Employee Tax Expert

Retirement tax questions

No. None of those codes accurately describe your situation so let me make another suggestion on how to report this. 

 

  1. Open your return and go to Federal > Wages & Income
  2. Scroll to the very bottom to the Less Common Income group.
  3. Click Start (or Revisit) next to Miscellaneous Income, 1099-A, 1099-C.
  4. Select Other reportable income (usually the very last option).
  5. Other taxable income 
  6. Click Continue past the screens until you reach the screen that says other reportable income at the bottom.
  7. When it says any other taxable income. Mark yes.
  8. Description: Enter EXCESS 457(B) DEFERRAL
  9. Amount: Enter 2200
  10. Click Done.

This is a much simpler method since it doesn't require the use of codes, but still captures the income in your return.

 

@peterlkim11 

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