When it asks "Did you elect to have your employer make contributions to your deferred compensation plan," does that mean out of my money or out of my employers money?

[JamesG1]

In many cases contributions are made by both: 

• the employer who matches up to some percentage of employees income (and the income is not taxed in the current year), and 
• the employee who makes pre-tax contributions (not taxed and the dollar amount of box 1 of your W-2 is less than the amounts in boxes 3 and 5 of your W-2).

See also this IRS FAQ.

[UserSince93]

I found an error in my version of the software (2022.r16.031).  The "Learn more" link opens the help page for "What is mortgage insurance?," which obviously has nothing to do with deferred comp.  

[MOtaxM]

I had the same problem with the information link leading to the wrong topic.

We have both 403b and 457b accounts.  The 457b is referred to by the employer as the deferred compensation plan.  The employer contributes to the 403b, but not to the 457b.  

So, my answer to this question will be different depending on how turbotax is using the term "deferred compensation". Is this for all retirement accts, or just for 457b accounts?

[CVChief]

yes, but what does the specific question "Did you elect to have your employer make contributions to your deferred compensation plan?" mean.  I assume if only I contributed, then no is the answer?

[stong]

I didn't see a reply yet, so I posted another question here

https://ttlc.intuit.com/community/retirement/discussion/more-info-asked-on-w2-box-12-code-g-did-you-...

[DanaB27]

What the question is referring to is, if you requested that your employer contributed money from your paycheck to your deferred compensation plan. In your situation, you will select "Yes".

@CVChief