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Get your taxes done using TurboTax
See this link under Sickness and Injury Benefits<a rel="nofollow" target="_blank" href="https://www.irs.gov/publications/p525/ar02.html#en_US_2015_publink1000229310">https://www.irs.gov/pu...>
These benefits are considered taxable if your employer paid for the premiums and not you.
While the "tip" says "Do not report as income any amounts paid to reimburse you for medical expenses you incurred after the plan was established," if the payments weren't specified as medical reimbursements, you can't really exclude the income. However, you could take a medical expense deduction for the amounts that you paid out of these insurance proceeds.
These benefits are considered taxable if your employer paid for the premiums and not you.
While the "tip" says "Do not report as income any amounts paid to reimburse you for medical expenses you incurred after the plan was established," if the payments weren't specified as medical reimbursements, you can't really exclude the income. However, you could take a medical expense deduction for the amounts that you paid out of these insurance proceeds.
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May 31, 2019
5:31 PM