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Should I manually remove the amount of non-qualified deferred income earned in 2019 if I haven't received a payout yet? It showed up on my W-2 as "NONQ PAY" in Box 14.

Forum|Forum|6 years ago
February 20, 2020
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Best answer by DavidD66

No, you shouldn't "manually remove" you non-qualified deferred compensation. Amounts appearing in box 14 of your W-2 are memo entries, and the amount(s) do not flow to your tax return. Unless your employer included the non-qualified compensation in Box 1 of your W-2, it's not being reported as taxable income. If it is included in Box 1, and you have not yet received it, then you should talk to your employer, but you cannot manually adjust your W-2 - doing so won't change the amount reported to your employer.

D

DavidD66Answer

No, you shouldn't "manually remove" you non-qualified deferred compensation. Amounts appearing in box 14 of your W-2 are memo entries, and the amount(s) do not flow to your tax return. Unless your employer included the non-qualified compensation in Box 1 of your W-2, it's not being reported as taxable income. If it is included in Box 1, and you have not yet received it, then you should talk to your employer, but you cannot manually adjust your W-2 - doing so won't change the amount reported to your employer.

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