topic IT-201 nonqualified deferred compensation question in After you file

IT-201 nonqualified deferred compensation question

adelu23 — Thu, 01 Apr 2021 04:41:09 GMT

Hi!

Does anyone know if I should supersede/amend my IT-201 if I accidentally mark D2 incorrectly? D2 asks if I was required to report any nonqualified deferred compensation as required by IRC 457a and I marked it as yes by accident. This does not affect my taxable income amount though .. any advice?

Thanks in advance!

Re: IT-201 nonqualified deferred compensation question

DanielV01 — Tue, 06 Apr 2021 00:22:51 GMT

If neither your taxable income nor your tax is affected, don't amend. However, if the state contacts you with a letter questioning what happened, maintain documentation to show that you marked the corresponding boxes in error and you don't have the deferred compensation as referenced above.

Re: IT-201 nonqualified deferred compensation question

adelu23 — Tue, 06 Apr 2021 01:06:59 GMT

Thank you so much @DanielV01 !!!