W 2 shows social security and medicare deducted for interest on a deferred compensation plan. Box 1 empty. Should i not file this w 2?

[jcchaits]

Cannot e file as box 1 empty.  Since no income was earned on this plan in 2018, considering not filing this w 2. All deductions for interest earned no income 

[MichaelMc · Accepted solution]

I would suggest including the W-2 information in your tax return. It is not going to have any impact on your income tax, but there are still two good reasons for inclusion:

1. The IRS runs matching tests eventually on all tax returns submitted to verify that all W-2s submitted to them by employers have been reported by taxpayers. A few seconds of data entry now will save you time later responding to an IRS notice.
2. There is a cap on the amount of Social Security tax you must pay during the year. Including the data from this W-2 will allow TurboTax to verify that the issuers of W-2 to you have not inadvertently exceeded the cap. Infrequently, a taxpayer is owed a refund.