I prepared my 1040 with turbotax. I had W-2 income and an K-1. My return shows an amount in Schedule 2 (other taxes) line k (Golden parachute payments.). I don't know where that came from. I did not receive that kind of payment and it isn't on my W-2 or K-1. I didn't enter it anywhere. Looks like TT just inserted it.
021839
2 Replies
AnnetteB6
Expert Alumni
Apr 5, 2025 5:35:44 AM
Take a look at your W-2 in box 12 to see if you have an amount reported with code 'K', or a Form 1099-MISC with an amount in box 14.
Either or both of these inputs will generate the tax reported on Schedule 2 line k.
taxcomm
New Member
Apr 7, 2025 6:23:43 AM
I discovered my problem here - entering W-2 codes from Box 14 in Box 12. Fixed that and the problem disappeared.