Ask Experts Questions for FREE Help !
Ask
    m16802's Avatar
    m16802 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 13, 2009, 11:02 AM
    Corrected W2 Concern with Line 16
    Hi,
    I received a corrected W-2 from my employer. The only line that changed was line 16, State wages, tips, etc. I have already filed using Turbo Tax (not the free version!) The new amount is 5040.40 less than the original reported amount. This is, incidentally, the amount of my severance agreement when I was laid off.

    When I filed my taxes, I did indicate in the "state" section of Turbo tax that I received a severance payment of 5040.40, so I did report it to the state. (But of course that was with the original amount in line 16. Does that matter?) I live in NC.

    When I go in and "play" with the numbers in Turbo Tax (changing Line 16 to the corrected amount) my refund does not change. Also, when I look at the documents that Turbo sent to the government, the D-400 (NC state return doc), the figure from line 16 isn't even on there.

    Should I file an amended return? What does Line 16 do if it doesn't transfer to the D-400?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 5, 2009, 02:36 PM
    In my opinion, you need do NOTHING, because you properly account for the severance pay on your NC state tax return.

    If not, the state will get back to you.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Wrong social-corrected W2C but does not include wages [ 1 Answers ]

My ex-employer had my wrong social on my W2. I have been going back and forth with them for over a month trying to get them to fix it. Someone in corporate finally issued a W2C that they have for me to pick up at my old job. They have informed me though that the new W2 only has my name address...

Rollover to wrong funds not being corrected by Fidelity [ 4 Answers ]

I rolled money from my previous employee to current managed by Fidelity. I have submitted the rollover form with rolled over check along with fund distribution for about 6 months ago. I did not notice this discrepancies until recently when my funds was shrunk. I was working with Fidelity to correct...

OPT status tax filing with corrected W2 from employer [ 1 Answers ]

Wondering if anyone can answer my question? I have been working with a company since January, My OPT ended on October 1st. My company has been deducting my social security and medicare taxes from my paycheck every month. When I approached my company regarding this issue, They provided me...

F1 - H1 - Corrected W2 form [ 4 Answers ]

Hello Atlanta Tax Expert, In 2005, I was on F1 visa status from Jan through Sept 30 and on H1B in Oct - Dec. From previous discussions on this topic in this forum, I understand that it would not be WRONG for me to fill 1040NR or 1040NREZ and 8843 forms. Another thing is, I have received a...

View more questions Search