W-2 & non qualified plans

jlew1229 · ‎03-25-2023

I have a W-2 with $18,924.00 in box 1 and $18.924.00 in box 11. When I enter it into Lacerte it states: W-2 contains no wages. Shouldn't line 1 become taxable? should it be entered somewhere else? Does w-2 Box 11 zero out W-2 box 1?

PhoebeRoberts · ‎03-25-2023

The presentation of W-2s with Box 11 amounts has changed. See the W-2 and 1040 instructions. Look at Schedule 1, also.

Joni T EA · ‎03-25-2023

No it is not taxable. Enter in box 1 and box 11. the program will not tax the non-qualified plan. there will be a worksheet showing it reduced taxable wages.

YLCPA · ‎04-17-2023

Similar situation for my client - not taxable by Lacerte in 2022, which is taxpayer's first full year of retirement-not sure if that makes a difference. However, in 2021, Lacerte did NOT reduce the wages for the amount in Box 11 - taxpayer retired part way through 2021. Was Lacerte handling the taxation correctly in 2021? Or incorrectly in 2021?

Thank you for any help regarding this.