Code K in Box 14 Getting Entered under the Golden Parachute line

Hello, I finished my taxes on TurboTax and I noticed that the software entered my code K value, which I believe is pre-tax dental and vision benefits under the Schedule 2 Line K Golden Parachute Payments. Is this wrong? It was not entered there under my 2021 tax form and seems odd that my pre-tax dental and vision reduction would be added as an additional tax. Can someone help?

194

Expert Alumni

Mar 4, 2023 5:58:23 PM

TurboTax does not have a “Code K” for W-2 Box 14. Code K is Box 12 is 20% excise tax – golden parachute.

Check your Box 12 and 14 entries.

To get back to your W-2

• Type w-2 in Search (magnifying glass) in the upper right

• Select Jump to W-2

• On the screen "Your W-2 info so far" select Edit next to your W-2

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Code K in Box 14 Getting Entered under the Golden Parachute line