Look Bad!

[ddoshan]

I was just reviewing the clients return with them after completion and I noticed the notation on Line 7 (DFC). I had never seen that before to the best of my recollection. Trying to explain to the client I thought it had something to do with income sources that would not qualify for the EIC or whatever. They did have a couple of unique W-2's that did not include actual wages for work done such as one for a stock option deal with code V.

[Burke]

It means Deferred Compensation. Should have a W-2 for it. Amt shown in Box 7 and 11 (Non-Qualified Plans). No FICA as it was paid in the year DFC was granted.