I have a W-2 Wage and Tax Statement that has an amount in box 11 ( Nonqualified Plan). No amounts in boxes 3,4,5,or 6.There is a question on Turbotax if this amount is a distribution from a Nonqualified 'Pension' plan.
Yes, the amount reported in Box 11 Form W-2 is a distribution from a Nonqualified 'pension' plan.
Box 11 is used to report amounts distributed to you from your employer's non-qualified deferred compensation plan this amount is taxable.
Ok, but how do you set that up in QB to process and report properly?
QB is for business use and not for personal income record keeping.
Yes I am. However, I do not see in QB Desktop how to create a pay item so that it will populate the W2 correctly. We are taking into account the special timing rule to pay the FICA taxes all in 2021.
OK ... so you are using QB to complete Business filings for payroll then you need to talk to QB and not post on the TT forum. https://quickbooks.intuit.com/learn-support/us-quickbooks-community/misc/03/community-us
thanks for that information. When I was doing as search - TT is the only thing that popped up that even addressed the issue.