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onlyme1
New Member

TT reporting of Non qualified plans

In retirement for the past 5 years I receive $25,000 from previous employer; this would show as Wages in Box 1 of a my W2 and income taxes withheld show in Box 2.  The full amount is also shown in Box 11 as from a "nonqualified "plan.  

Previously this income would transfer to Line 1 of my 1040 form (Wages Salaries etc).  This year it transferred to Line 8t on Schedule 1 and then shows up as "other income" on line 8 of my 1040.

Why the change and does it affect potential taxation rates etc? 

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4 Replies

TT reporting of Non qualified plans

Did you get a W2 instead of a 1099R for it?

onlyme1
New Member

TT reporting of Non qualified plans

Yes its a W2

onlyme1
New Member

TT reporting of Non qualified plans

re previous post.

 

Have gotten W2's with it since I retired.

dmertz
Level 15

TT reporting of Non qualified plans

The IRS has moved this to Schedule 1 line 8t on tax returns for 2022 and beyond.  TurboTax has implemented this required change.

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