I'm an independent contractor and the nonprofit I worked for made a contribution on my behalf to a 457b. How do I include this in my self employment tax calculation?

brent-c-mills · ‎March 9, 2020

VictoriaD75 · ‎March 9, 2020

A 457(b) plan is an employer-sponsored, tax-favored retirement savings account. Also known as a deferred compensation plan, it's offered to state and local government employees such as police officers, firefighters, or other civil servants. Was this 457b your plan? Or was it a contribution to another individual on your behalf?

Contributions made by an employer to a 457b are tax deferred. If this was their payment to you in lieu of cash, it is not a taxable event.

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I'm an independent contractor and the nonprofit I worked for made a contribution on my behalf to a 457b. How do I include this in my self employment tax calculation?