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code K on W-2

Level 2

Got a client with a code K on W-2 amounts to $2160. I understand this is excess golden parachute which must be taxed 20%, but the software is using the whole amount of Code K as a tax, the whole $2160

Please help 

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1 Comment 1
Level 15

Box 12 Code K is the 20% tax. The software is correct.