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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13152
Experience:  15years with H & R Block. Divisional leader, Instructor
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What is a section 409A income on a 1099 misc form

Customer Question

what is a section 409A income on a 1099 misc form
Submitted: 7 months ago.
Category: Tax
Expert:  Robin D. replied 7 months ago.

Section 409A applies to compensation that workers earn in one year, but that is paid in a future year. This is referred to as nonqualified deferred compensation. This is different from deferred compensation in the form of elective deferrals to qualified plans (such as a 401(k) plan) or to a 403(b) or 457(b) plan.

There is a 20% tax on the amount you enter from IRS Form 1099-MISC, Box 15b Section 409A income. This amount will be included in the total of Line 62 of your return
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Expert:  Robin D. replied 7 months ago.

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