Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- How do i report a self employed dr's contribution to a non-qualified deferred compensation plan? is it a deduction on schedule C?
How do i report a self employed dr's contribution to a non-qualified deferred compensation plan? is it a deduction on schedule C?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
thompson
Level 3
11-29-2022
05:42 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
This is a 409A plan of a major medical center.
Labels
1 Comment 1
sjrcpa
Level 15
11-29-2022
05:47 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Nonqualified deferred comp means it is deductible when the recipient includes it in income.
I'm not really sure how it works for a self-employed person. How is he "deferring" it?
EDIT: rereading. I think he gets the "deduction" in effect, because the medical center is only paying him the net after the deferral. Therefore his reportable income is net of the deferral.
The more I know, the more I don't know.
