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New Member
posted Jun 3, 2019 11:38:16 AM

Is a deferred salary compensation plan a non qualified pension plan?

If we have money in box 11 on the W-2 do we need to check the box that we took money from a non-qualified plan?

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1 Best answer
Employee Tax Expert
Jun 3, 2019 11:38:18 AM

Yes, deferred salary compensation plans are non qualified plans. Enter the box 11 amount and check the box for pension (such as a 457) plan.

https://www.irs.gov/businesses/corporations/nonqualified-deferred-compensation-audit-techniques-guid...

5 Replies
Employee Tax Expert
Jun 3, 2019 11:38:18 AM

Yes, deferred salary compensation plans are non qualified plans. Enter the box 11 amount and check the box for pension (such as a 457) plan.

https://www.irs.gov/businesses/corporations/nonqualified-deferred-compensation-audit-techniques-guid...

New Member
Jun 3, 2019 11:38:20 AM

What is the impact of answering "Yes" to "Tell Us More About Box 11 Income"? It doesn't seem to affect the tax refund / tax due amounts.

Level 3
Jun 3, 2019 11:38:20 AM

If the PA state return is e-filed, do I need to mail the W2 with a statement?

New Member
Mar 1, 2020 12:26:24 PM

I seemed to have gotten in trouble because I entered 0's into fields that should have been left blank when entering the W-2 info.

Expert Alumni
Mar 1, 2020 2:00:55 PM

If you can't remove the zeros, you can delete the form and begin again.

 

To Delete a Form

Open your return in TurboTax. 

  • In the left side bar, select Tax ToolsTools.
  • In the pop-up window Tool Center, choose Delete a form.
  • Select Delete next to the form/schedule/worksheet and follow the onscreen instructions