turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If there is an amount listed for deferred compensation on my tax transcript is that box 11 on my W2?

I never received my W2s and am super late filing so I’m going off of my tax transcript but not sure if I report the amount for deferred compensation.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
dmertz
Level 15

If there is an amount listed for deferred compensation on my tax transcript is that box 11 on my W2?

Whatever amount is shown for box 11 of the W-2 must be entered into box 11 of TurboTax's W-2 form.  Distributions from nonqualified deferred compensation plans reported box 11, while included in the taxable amount shown in box 1, are not counted as wages for purposes that depend on the amount of your wages, such as whether or not the amount in box 1 of the W-2 will support an IRA contribution.  For those purposes, TurboTax will automatically reduce the amount entered in box 1 by the amount entered in box 11.

View solution in original post

2 Replies

If there is an amount listed for deferred compensation on my tax transcript is that box 11 on my W2?

I'll page @dmertz. Please check back later.

dmertz
Level 15

If there is an amount listed for deferred compensation on my tax transcript is that box 11 on my W2?

Whatever amount is shown for box 11 of the W-2 must be entered into box 11 of TurboTax's W-2 form.  Distributions from nonqualified deferred compensation plans reported box 11, while included in the taxable amount shown in box 1, are not counted as wages for purposes that depend on the amount of your wages, such as whether or not the amount in box 1 of the W-2 will support an IRA contribution.  For those purposes, TurboTax will automatically reduce the amount entered in box 1 by the amount entered in box 11.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies