Expert: Arthur Naman - 12/9/2009

Question
we are trying to qualify someone based on what they are saying is pension income but it is being reported on a W2 form.  The income is listed as DEFCOMP-NO FICA;RETIRED SUPP/CONTRACT;WB DEFERRED INCENTIVE PLAN;WB RSPS EQUALIZATION PLAN.  Is this normal to be reported on a W2 versus a 1099.

Answer
A deferred comp plan is not the same as a pension plan. I have not seen the specific description mentioned in your question. It is quite possible that reporting the income on a W-2 rather than a form 1099 is correct.

Without more information, I cannot provide a better answer. I would have to know more about the nature of the payments received for which the W-2 was issued.