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Question about box 11 on W2

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  • nachos31 nachos31 
    Moderator
    Status: Physician
    Posts: 411
    Joined: 01/12/2016

    Seeking collective wisdom something that seems like splitting hairs on box 11 (non-qualified plans) of my W2. The sum I have listed here is from a distribution from a 457f plan (deferred comp non-qualified plan) that distributes every 2 years; this year’s distribution is from a prior year’s deferral. When filling out info on H&R Block, it asks if the amount shown in box 11 is from:

    1) A distribution from either a:

              – non-qualified plan

              – non-governmental 457b plan

    2) A prior year deferral (plus earnings) under a non-qualified or 457b plan when both of these are true:

              – the plan became taxable for Social Security and Medicare taxes this year

              – there was no longer a substantial risk of forfeiture of your right to the deferred amount

    Answer “yes” only if the amount show in box 11 is a distribution described in point 1 above.

    Both point 1 and point 2 are true for me. This is a distribution of a prior year’s deferral that became taxable this year due to there no longer being a substantial risk of forfeiture. I did not mark “yes” to the question since point 2 was also correct. I’m guessing this is splitting hairs, but I tried to mark it both ways and figure out what difference it made on my tax return but could not tell any difference. As far as I can tell, the amount in box 11 is already included in box 1 as taxable income. Anyone familiar with this distinction and its importance?

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