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- 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?
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thompson
Level 3
11-29-2022
05:42 PM
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This is a 409A plan of a major medical center.
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sjrcpa
Level 15
11-29-2022
05:47 PM
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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.
Ex-AllStar
