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What do you do with 12z on a W2?

How do I categorize a 12Z entry?
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2 Replies

What do you do with 12z on a W2?

Box 12 Code Z —Income under a nonqualified deferred compensation plan that fails to satisfy section 409A. This amount is also included in box 1. It is subject to an additional 20% tax plus interest.

 

This is unusual and the calculations for the additional tax and interest on this are not supported by TurboTax.

What do you do with 12z on a W2?

My W2 noted a 12z for a deferred income plan I participate in; however I am getting this error below- how can I file - the info is accurate?  "Form W-2 (Lending Tree, LLC): Box 12 code of Z is income under a nonqualified deferred compensation plan that fails to satisfy section 409A. This is unusual and the calculations for the additional tax and interest on this are not supported." 

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