I received a W2 for deferred compensation. On this W2 form, Box 1 is less than box 11 because a portion of my compensation was categorized as non-taxable. The discrepancy between box 1 and box 11 is generating and error in Turbotax. The error tells me box 1 and box 11 should match. How do I account for the non-taxable portion of the compensation to fix this error?
It's completely normal for Box1 and Box 11 not to match on a W-2.
If TurboTax is giving you an error, it may be related to how the deferred compensation follow-up questions were answered.
Double-check the W-2 entry and any follow-up questions about nonqualified plans.
You can also delete your current W-2 and start over again using these steps:
To delete a W-2 from your return, please follow these steps: