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