Q: W2 box 11 is blank, is this a deferral or distribution?

(It is a payout of compensation deferred while working. Federal, State and local taxes were withheld but no SSA or Medicare was withheld.  (Retired at end of 2015, have been getting deferred comp since then)


dmertz
Level 15

Retirement tax questions

If no Social Security or Medicare taxes were withheld, it seems likely that the amount in box 1 should also be present in box 11.  You might want to review this with the former employer.

Retirement tax questions

Hello.  Thank you for the response. I checked into the details of the deferred comp plan and Social Security, Medicare and statutory employment taxes were due in the year the compensation was deferred. So these taxes have already been withheld and paid, and thus not on the W2 for the deferred compensation. Accordingly, the W2 boxes 3-8 are empty (nil) and thus correct.  Turbotax internal rules and algorithms should be updated and corrected to not ask a misleading or confusing question and better clarify the rule (IMHO).
dmertz
Level 15

Retirement tax questions

In my original comment, I should have said:

If your 2017 W-2 shows no Social Security or Medicare tax withholding, it seems likely that the amount in box 1 should also be present in box 11.

It appears that your W-2 has been improperly prepared and box 11 should be showing the same amount as is in box 1.

Retirement tax questions

Correction.  Amount in box 1 and 11 are the same.
dmertz
Level 15

Retirement tax questions

Ok, then your W-2 is fine.
dmertz
Level 15

Retirement tax questions

Answered in the comments.

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