This year, for the first time, PTO is subtracting Nonqualified Plan amounts (Box 11 on W2) from Wages. Seems like an error, right?

Forum|Forum|3 years ago
March 7, 2023
1 reply
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ProConnect Tax

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Best answer by itonewbie

It is correct. The filing instructions for Line 1a (vs Line 1 on 2021 F.1040) have changed.

The NQDC distribution will be backed out and reported on Sch 1 Line 8t instead. You will also find a reconciliation on Statement 1 so long as you default your return to print the Wage/pension schedule.

itonewbieAnswer

Level 15

It is correct. The filing instructions for Line 1a (vs Line 1 on 2021 F.1040) have changed.

The NQDC distribution will be backed out and reported on Sch 1 Line 8t instead. You will also find a reconciliation on Statement 1 so long as you default your return to print the Wage/pension schedule.

---------------------------------------------------------------------------------Still an AllStar

M

meltax11Author

Level 2

Thank you SO much!

I had just realized that the results hadn't changed, and was hunting to find out why this had been moved, and then your answer arrived and saved the day (or at least hours of digging.)

Really appreciate it!

itonewbie

Level 15

NP, @meltax11! Just be aware also that NQDC distributions are not reported in Box 11 where Boxes 3 and 5 include current and/or prior year deferrals. In that case, you'd want to look at the comp breakdown but I suppose there'd be NTE in the end. NQDC is one of those things you watch out for due to adverse tax impacts from provisions like 409A.

---------------------------------------------------------------------------------Still an AllStar

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