I have the desktop version of Turbotax Premier 2022. I have entered data for one W-2 form. After entry, the tax withheld shows on the correct line 25-a of the 1040 form. However, on both the 1040 form and Turbotax's Summaries, the income is not listed as W-2 wages as it should (on Form 1040 - Line 1a). It is incorrectly being listed on 1040 Line 8 (Other Income From Schedule 1) and on Turbotax Summary Pages as Other Income or Loss. This is an error in the software and results in an incorrect 1040 and Turbotax summaries.
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Can you clarify which line on Schedule 1 is populated with your W-2 information? This will help me identify if something erroneous is happening with the entry.
Same situation. Previous years this W-2 amount was listed on Form 1040, line 1a. This year, Form 1040 line 1a has a "0", and Schedule 1, line "8t" shows the actual W-2 amount. It appears that for 2021 reporting there was no line "8t", which in 2022 reporting is specifically about non-qualified pensions. Is this a new detail in the reporting of this specific kind of income??
Yes, this is a change in reporting for tax year 2022.
Pension or annuity income from a nonqualified deferred compensation plan or nongovernmental section 457 plan is now reported on Schedule 1, line 8t.
When a taxpayer receives a pension or annuity from one of these plans, and it was reported in box 1 of Form W-2, the amount should no longer be included on line 1a of Form 1040.
Please see Line 1a, Total Amount From Form(s) W-2, Box 1 in the Instructions for Form 1040 for more information.
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