Question
TT reporting of Non qualified plans
In retirement for the past 5 years I receive $25,000 from previous employer; this would show as Wages in Box 1 of a my W2 and income taxes withheld show in Box 2. The full amount is also shown in Box 11 as from a "nonqualified "plan.
Previously this income would transfer to Line 1 of my 1040 form (Wages Salaries etc). This year it transferred to Line 8t on Schedule 1 and then shows up as "other income" on line 8 of my 1040.
Why the change and does it affect potential taxation rates etc?
