TT asks for more info on W2 Box 12 Code G: "Did you elect to have your employer make contributions to your deferred compensation plan,” The Learn more button incorrectly sends us to “What is mortgage interest” Is this asking if my employer made additional contributions into my deferred compensation plan (ie on top of what I contributed from my own salary? e.g., Is it asking:I designated 5,000 to go to my deferred compensation planMy employer deposited another 3,000 of the company’s money into my deferred compensation plan – not from my salary/pay.I couldn’t find a reply to similar posts:https://ttlc.intuit.com/community/taxes/discussion/wrong-help-file-linked-on-desktop-help-section/01/2822744/highlight/false#M1024911 https://ttlc.intuit.com/community/retirement/discussion/when-it-asks-did-you-elect-to-have-your-employer-make-contributions-to-your-deferred-compensation/00/2827077

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More info asked on W2 Box 12 Code G: "Did you elect to have your employer make contributions to your deferred compensation plan,”

Forum|Forum|3 years ago
February 16, 2023
1 reply
0 views

TT asks for more info on W2 Box 12 Code G: "Did you elect to have your employer make contributions to your deferred compensation plan,” The Learn more button incorrectly sends us to “What is mortgage interest”

Is this asking if my employer made additional contributions into my deferred compensation plan (ie on top of what I contributed from my own salary? e.g., Is it asking:

I designated 5,000 to go to my deferred compensation plan
My employer deposited another 3,000 of the company’s money into my deferred compensation plan – not from my salary/pay.

I couldn’t find a reply to similar posts:

https://ttlc.intuit.com/community/taxes/discussion/wrong-help-file-linked-on-desktop-help-section/01/2822744/highlight/false#M1024911

https://ttlc.intuit.com/community/retirement/discussion/when-it-asks-did-you-elect-to-have-your-employer-make-contributions-to-your-deferred-compensation/00/2827077

Best answer by tmunoz

What we mean here is did you request that your employer contribute money from your paycheck to your deferred compensation plan. If this sounds like your situation, select Yes.

If your employer contributed money that didn't come out of your paycheck, select No.

Thank you for your information about the Learn more link in the TurboTax Desktop version.

tmunozAnswer

What we mean here is did you request that your employer contribute money from your paycheck to your deferred compensation plan. If this sounds like your situation, select Yes.

If your employer contributed money that didn't come out of your paycheck, select No.

Thank you for your information about the Learn more link in the TurboTax Desktop version.

ScottT18

"Elect" is the problem that I wanted to read in the associated help file. It comes from my check but it is mandatory. I cannot "elect" not to. Employer contributes nothing, they just take out a % for the account

RobertB4444

That's a very strange employee benefit program. But in your case you'll still select 'yes' because technically you elected to have the money taken out of your check and moved into the retirement plan by agreeing to work there. It's a technicality - and, like I said, a weird 'benefit' to force your employees to take it - but it's correct.

@ScottT18

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