@AJ0411 wrote:
If you own more than 2% of an s-corp and include your domestic partner on your insurance are you imputed this fair market value twice or is it already covered by the fact that you are imputed it as the s-corp owner? For example, the company pays $2,000 for the family plan insurance. The fair market value of your partners portion is $1,000. Is my imputed income $2,000 or $3,000.
I'm not clear on your example. The company imputes the total FMV of the coverage, it does not have to include the cost twice.
For a regular employer, the issue is that the employee's coverage is non-taxed, but the partner's coverage is a taxable benefit. For a >2% employee, the insurance is all taxable from the start, no matter who or how many people it covers.
